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BNB/USDT Potential Upward Movement

BNB/USDT Price Long-Term: Bullish

Key Resistance Levels: 305.95, 348.65, 350.15

Key Support Levels: 254.04, 222.90, 196.07

Daily Chart:

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

4-hour Chart:

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.

Signal Idea:

Buy Limit Order @ 254.01

TP 1 @ 294.41

TP 2 @ 305.95

Stop Loss @ 233.81

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.

4 comments

  1. Hey, Thanks for the good work. How many signals do you paste per week?

  2. Where can I find a list of theses pairs to trade, I have no idea what BNB is and, and USDt. My broker does not have any of them.

    • Hi Bryan, go into your broker, right click in the market watch and click show all. This should provide you with all of the assets your broker allows you to trade. If you don’t have the asset, you can contact your broker.

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