Binance coin forming a double top pattern

BINANCE:BNBUSDT   Binance Coin / TetherUS
Binance coin has been forming green candles on weekly time and has formed a perfect doji above its 20 ema.

On the daily chart analysis, the coin is consolidating near the resistance zone and 200DMA.

The coin is trading between its 20 and 200 ema on daily time frame. A clear rejection is there near the resistance zone.

Coin is trading and taking support from its 200 ema on hourly time frame.

Wait for a close below 315 level on the daily time frame.

Good risk to reward ratio is there if the coin starts to dip.

Wait and watch the price action before shorting the coin.


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