Binance coin create rounded top and can continue to move down
335
Hello traders, I want share with you my opinion about Binance Coin. Observing the chart, we can see how the Binance Coin has been rising for a long time. The price broke through the resistance level 300 and after a small correction continued to move upwards. After reaching the level 345, the price changes its movement and begins to decline. We see the price retesting the resistance line from which it bounced, break the support area 332.5-327 and continued to decline. Over time, the price has formed a rounded top pattern and can continue to go down. I think the price is currently making a correction and after a possible retest the resistance area can continue to fall and break through the support line. Based on this analysis, goals for Binance Coin, I set at level of 315, which coincide with the support line and corresponds to the Fibonacci level 0.618 and at support level 300 which close to Fibonacci level 0.382. Please share this idea with your friends and click Boost 🚀
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.