BNX breaking the channel
BNX is a GameFi crypto.
It has been moving in an ascending channel since April 2022. However, the trading volume has continuouly decreased. Today, it is breaking out and going back to demand area (grey zone), likely.
We can observe that the money flow is out, with MFI and OBV indicators: buyers are vanishing.
With the bad news of macros, I expect that BNX will break the channel and go down to look for liquidity.
Trade active
RSI trendline was broken. Here below the possible trade: Note
Because it still needs 1 more day to confirm the breakdown, trade with small size is recommended.
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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.
Disclaimer
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.