BNB/USDT Price Long-Term: Bullish
Key Resistance Levels: 305.95, 348.65, 350.15
Key Support Levels: 254.04, 222.90, 196.07
The coin is in a clear uptrend where it is traded inside a bullish channel formation. A correction count was posted to the lower end of this channel. Our expectation is that the price could not close below this level and we might see a continuation of the main trend to the upside.
BNB/USDT Medium-Term Trend: Bullish
On the 4-hr time frame, the price is trading within a bullish pennant where the price was smashed by the bears to the downside toward a confluence area between the 61.8% Fibonacci retracement level and the strong support @ 254.01 USDT Level. The next move will be to the upside by breaking the pennant formation and might reach the 294.41 USDT Mark.
Buy Limit Order @ 254.01
TP 1 @ 294.41
TP 2 @ 305.95
Stop Loss @ 233.81
Trade Safely 🙂