BNB Revised Target from 460 to 600 @ End of April
Following a clear breakout from the Ascending Triangle to 370 and with good support forming here, a gain of 240 points was made.
RSI is rising firmly (red) above the long term trend (yellow). A continuation of this trend until the overbought region will take us until end of April.
Volumes are rising steadily.
A mirrored gain of 240 takes us to a new revised target of 600.
Please note the timescales used for all Averages and RSI are long term (144 - Fibonacci) and Overbought and Oversold regions on RSI have been adjusted to match the RSI @ 51 Oversold and 71 Overbought.
RSI is rising firmly (red) above the long term trend (yellow). A continuation of this trend until the overbought region will take us until end of April.
Volumes are rising steadily.
A mirrored gain of 240 takes us to a new revised target of 600.
Please note the timescales used for all Averages and RSI are long term (144 - Fibonacci) and Overbought and Oversold regions on RSI have been adjusted to match the RSI @ 51 Oversold and 71 Overbought.
Comment:
Well having hit the target on schedule and then forming support at it (600) ready for the next leg, we had the crypto wide sell off. BNB Survived the selloff well with what looks like support forming at the previous base line of the ascending triangle (yellow). BNB and ADA (two I follow) survived better than most.
We should see support forming here before moving on.
The last couple of days have formed an excellent flagpole (ready for the next flag/pennant/triangle).
Likely new target (based on previous) 800 - 1000 although this has yet to be indicated on chart.