Can be a best buy moment for the bull run! #BNB
Before you start further, T&C - I'M NOT A FINANCIAL ADVISOR OR I'M NOT GIVING ANY SIGNALS HERE! THIS IS MY OWN OBSERVATION AND I DON'T MEAN YOU IN ANY WAY TO TRADE ACCORDING TO THIS! YOUR TRADES ARE YOUR OWN RISK!! Thank you :) and also, these are the keywords and the meaning of them which I used in my charts!
C - R/S = Current - Resistance/Support
S/R - 1/2 = Support/Resistance - 1/2 (S-1 is the heavy support and R-2 is a heavy resistance)
Now in 4 hours chart of BNB I can see a symmetrical triangle forming! What is a symmetrical triangle? In short, it means that if it breaks upwards then the price with becoming rocket and ho BOOM BAAM and if breaks downwards then we see a nice chill dump! You can google about triangles and other chart patterns if you don't know about it! So, as of current market status, as far as I think, it may break downwards and hit its support of 160$! If breaches that then we may see it as 90$-110$ too! But it can break upwards also or even it can just go in the accumulation zone for a day or two and then show a dump or a pump, but for now, I'm seeing it has to break downwards!
What if the triangle breaks downwards?
MY first buying area will be 170$(30%) and the second will be 160$(30%) and third will be 125$(40%) and also I will suggest you do the same and put your orders in parts! Again this is my trading style, you're can be different than mine so trade as yours cause I know how I manage my profit or loss!
What if the triangle breaks upwards?
MY position from long will be then only if a 4 hours candle closes above 245$(50%) with a confirmation! Confirmation means that after the candle closes above the resistance line and a red candle comes and retests it to confirm its support! MY second position(50%) will be when the same, a 4 hours candle, and then the confirmation closes above 280$ resistance!
What if the price goes in accumulation zone?
In simple words, I will wait for it to show any action!
Happy and safe trading brothers! :)
C - R/S = Current - Resistance/Support
S/R - 1/2 = Support/Resistance - 1/2 (S-1 is the heavy support and R-2 is a heavy resistance)
Now in 4 hours chart of BNB I can see a symmetrical triangle forming! What is a symmetrical triangle? In short, it means that if it breaks upwards then the price with becoming rocket and ho BOOM BAAM and if breaks downwards then we see a nice chill dump! You can google about triangles and other chart patterns if you don't know about it! So, as of current market status, as far as I think, it may break downwards and hit its support of 160$! If breaches that then we may see it as 90$-110$ too! But it can break upwards also or even it can just go in the accumulation zone for a day or two and then show a dump or a pump, but for now, I'm seeing it has to break downwards!
What if the triangle breaks downwards?
MY first buying area will be 170$(30%) and the second will be 160$(30%) and third will be 125$(40%) and also I will suggest you do the same and put your orders in parts! Again this is my trading style, you're can be different than mine so trade as yours cause I know how I manage my profit or loss!
What if the triangle breaks upwards?
MY position from long will be then only if a 4 hours candle closes above 245$(50%) with a confirmation! Confirmation means that after the candle closes above the resistance line and a red candle comes and retests it to confirm its support! MY second position(50%) will be when the same, a 4 hours candle, and then the confirmation closes above 280$ resistance!
What if the price goes in accumulation zone?
In simple words, I will wait for it to show any action!
Happy and safe trading brothers! :)