BNB/USDT (Spot) Long-Term Trend: Bullish
Key Resistance Levels: 566.2, 588.7, 613.4.
Key Support Levels: 540.2, 511.2, 496.9.
The price on the higher time frame succeeded to break the key resistance level (now support) around the 541.4 USDT mark with the help of a bullish engulfing pattern. This shows that the market is clearly controlled by the buyers where further movement to the upside could be seen in the coming hours.
BNB/USDT (Spot) Medium-Term Trend: Bullish
On the lower time frame, the bulls manage to break the bullish flag pattern to the upside and now the price traded above the key resistance area in a small range. The market found more bulls around the 61.80% Fibonacci retracement which could lead to a move higher. Before this move a lower correction could be seen to the new support.
Buy Limit Order @ 538.6
TP 1 @ 565.1
TP 2 @ 588.7
Stop Loss @ 525.4
Trade Safely 🙂