Hi traders,
I think BNB has a great potential in a long-term gain, but in short term, we may see correction due to the upcoming "bloody bitcoin month" and, more importantly, because of the RSI index in its historical reverse area. The crucial levels are underlined in the chart. If the price breaks level 636 then my idea is not relevant, but if the price will fall back to 525 we may assume that we have a start of the 3rd correction line, which will move the price all the way down to 280. I recommend opening a short position at 525 with a stop-loss at 560.
Wish you successful trading ;)
I think BNB has a great potential in a long-term gain, but in short term, we may see correction due to the upcoming "bloody bitcoin month" and, more importantly, because of the RSI index in its historical reverse area. The crucial levels are underlined in the chart. If the price breaks level 636 then my idea is not relevant, but if the price will fall back to 525 we may assume that we have a start of the 3rd correction line, which will move the price all the way down to 280. I recommend opening a short position at 525 with a stop-loss at 560.
Wish you successful trading ;)