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BNB/USDT (Futures) Potential Upward Movement

BNB/USDT (Futures) Long-Term Trend: Bullish

Key Resistance Levels: 409.82, 427.06, 430.00.

Key Support Levels: 389.38, 378.90, 366.93.

Daily Time Frame:

The price on the higher time frame posted a bullish head and shoulders which led to a reversal and a move to the upside. The market started to post higher lows showing that further movement to the upside is about to occur in the coming hours.

BNB/USDT (Futures) Medium-Term Trend: Bullish

1-Hour Time Frame:

On the lower time frame, the buyers succeeded to break the bearish trend line to the upside after a double bottom formation. A lower correction has been posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Market Order @ 393.16

Target Profit 1 @ 409.82

Target Profit 2 @ 427.06

Stop Loss @ 376.43

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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