Hi 🌟
As you can see, the trend of Binance Coin (BNB) is downward in the daily time frame. If you look at the left side of the chart, you will notice that a bottom has formed below its previous bottom, this is called a change of character (CHOCH).
Tip: To be more successful in trading, first find the movement trend of the cryptocurrency in the above time frame, then try to trade in the direction of the trend. This will increase your winning percentage. The reason is that, for example, in the downward trend, the number of long-term, swing and even short-term traders who have opened sell positions (SELL) is more than traders who have entered buy positions (BUY).
Also, on the left side of the chart, you can see a double top pattern, the double top pattern or two peaks is a reversal pattern, this pattern appears at the end of the trend in the chart and reverses the direction of the chart.
The golden point that exists is that always above the double top pattern or the bottom of the double bottom pattern, there is a lot of liquidity, the traders' stop loss and their limit orders. So the whales move the price to where there is more liquidity to fill their orders.
I tried to explain the general nature of the financial markets in a very simple and fluent way, after the double top pattern of the whales to collect liquidity and activate the loss limits of retail traders, they brought the price up to the resistance area of $398 (Liquidity) and then the price fell sharply. . As this happened after the formation of two valleys or double bottom and the price has been pumped.
Therefore, if you look at the left side of the chart, a double bottom pattern has been formed, which is expected to react to the yellow circle (Liquidity) in the range of $200 to $185 (Demand zone) and pump price again. to be
Arztoday Team 💙
Analyzer ✍: AR.Rashidi
As you can see, the trend of Binance Coin (BNB) is downward in the daily time frame. If you look at the left side of the chart, you will notice that a bottom has formed below its previous bottom, this is called a change of character (CHOCH).
Tip: To be more successful in trading, first find the movement trend of the cryptocurrency in the above time frame, then try to trade in the direction of the trend. This will increase your winning percentage. The reason is that, for example, in the downward trend, the number of long-term, swing and even short-term traders who have opened sell positions (SELL) is more than traders who have entered buy positions (BUY).
Also, on the left side of the chart, you can see a double top pattern, the double top pattern or two peaks is a reversal pattern, this pattern appears at the end of the trend in the chart and reverses the direction of the chart.
The golden point that exists is that always above the double top pattern or the bottom of the double bottom pattern, there is a lot of liquidity, the traders' stop loss and their limit orders. So the whales move the price to where there is more liquidity to fill their orders.
I tried to explain the general nature of the financial markets in a very simple and fluent way, after the double top pattern of the whales to collect liquidity and activate the loss limits of retail traders, they brought the price up to the resistance area of $398 (Liquidity) and then the price fell sharply. . As this happened after the formation of two valleys or double bottom and the price has been pumped.
Therefore, if you look at the left side of the chart, a double bottom pattern has been formed, which is expected to react to the yellow circle (Liquidity) in the range of $200 to $185 (Demand zone) and pump price again. to be
Arztoday Team 💙
Analyzer ✍: AR.Rashidi
