We're moving on in our study of BNBUSDT chart. This time in shorter timeframes.
We see recent regular dips spaced by around 11h 30' each.
It recently moved above WMA200 which is bullish, however without volume, thus we regard it as false positive.
It also recently moved to the lower half of the upward channel, which would coincide with a coming test on its bottom as it eventually crosses below the WMA200.
The coming thinning of the Ichimoku cloud suggests us that the timing for this next dip would be around our expected timing.
A strong enough move to breach the cloud would leave behind the tenkan sen and kijun sen altogether, as well.
That would allow for continued downturn since these main elements won't be a support any longer.
Best regards.
We see recent regular dips spaced by around 11h 30' each.
It recently moved above WMA200 which is bullish, however without volume, thus we regard it as false positive.
It also recently moved to the lower half of the upward channel, which would coincide with a coming test on its bottom as it eventually crosses below the WMA200.
The coming thinning of the Ichimoku cloud suggests us that the timing for this next dip would be around our expected timing.
A strong enough move to breach the cloud would leave behind the tenkan sen and kijun sen altogether, as well.
That would allow for continued downturn since these main elements won't be a support any longer.
Best regards.
