BNB Short Term Bullish + Breakout? (+33% Potential Profits)
Hello Fellow Traders,
Today we are looking at Binance Coin ( BNB/BTC ). As we can see, this coin peaked on its last bullish wave at around 31500 satoshi. Since then, there has been a strong correction back down to the 100 EMA.
Prices are now trading above all EMAs now, a strong bullish signal. Additionally, we see some large buys and increasing volume , another bullish signal. The MACD also given crossed on Oct 12th, and the RSI is well above 50, both of which are bullish. Finally, here on the 12H chart, we can see a small ascending triangle pattern forming with little overhead resistance, until the most recent high. However, a breakout above this level could trigger some decent growth and allow for new 2020 highs to be set.
A potential short-to-mid term trade setup now could be:
Entry: 25750-27500
Support: 23000-24750
Take Profits:
1 - 29250 (+9%)
2 - 31275 (+14%)
3 - 36795 (+33%)
Leave a like and share your own thoughts and comments down below if you liked the post. Also, follow me for more ideas! Check out some of my others down below.
Price at writing: 26625 satoshi.
Today we are looking at Binance Coin ( BNB/BTC ). As we can see, this coin peaked on its last bullish wave at around 31500 satoshi. Since then, there has been a strong correction back down to the 100 EMA.
Prices are now trading above all EMAs now, a strong bullish signal. Additionally, we see some large buys and increasing volume , another bullish signal. The MACD also given crossed on Oct 12th, and the RSI is well above 50, both of which are bullish. Finally, here on the 12H chart, we can see a small ascending triangle pattern forming with little overhead resistance, until the most recent high. However, a breakout above this level could trigger some decent growth and allow for new 2020 highs to be set.
A potential short-to-mid term trade setup now could be:
Entry: 25750-27500
Support: 23000-24750
Take Profits:
1 - 29250 (+9%)
2 - 31275 (+14%)
3 - 36795 (+33%)
Leave a like and share your own thoughts and comments down below if you liked the post. Also, follow me for more ideas! Check out some of my others down below.
Price at writing: 26625 satoshi.