Breaking News

BNB/USDT (Spot) Potential Upward Movement

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.

Daily Chart:

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

1-Hr Chart:

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.

Signal Idea:

Buy Limit Order @ 538.6

TP 1 @ 565.1

TP 2 @ 588.7

Stop Loss @ 525.4

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.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!






Free Robot!