BNBUSD is looking for a great buying opportunity after having 32% correction & has formed descending channel, has the high probability to make a move to the upside!
Binance coin price is up by 4.50% on Tuesday’s trading session. The price is above both the SMA. Investors can expect the movement until the resistance level 280.20. SMA and technical indicators recommend a buy signal in the coin.
Resistance: $280.20
Support: $220.30
we can buy near 200 mv and the stop loss will be below 200 on an hour closing basis for trade a final 5th wave. also if descending triangle break upside then the 5th wave can be confirmed
don't take much positions because BTC also getting retracement
Second Chance Trade Setup summary:
Profit targets = 76% = {TP3 = 8% + TP4 = 29% + TP5 = 39%}
Stop Loss = 30%
Reward/Risk > 2.5 : 1
New Trading suggestion:
" It is still possible to see a temporary retracement when the price falls to the uptrend line that will support and reject the price.
if so, traders can set orders based on Price Action and expect to...
Midterm forecast:
. While the price is above the support 15.015, resumption of uptrend is expected.
. We make sure when the resistance at 18.880 breaks.
. If the support at 15.015 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
. The RSI downtrend #1 is broken, so the probability of resumption of uptrend is...
