$BNB made a bearish crossover after its bull run
BNB has been one of the few coins that have climbed during the bear market while the rest were practically falling off of a cliff. On May 25th it reached its peak and the next pivot couldn’t break those levels, therefore beginning a bearish trend where the new maximums were lower than the previous one.
As we can see in the chart, the Exponential Moving Average (EMA) made a bullish crossover at the beginning of this bull run on May 11th. Using a strategy that incorporates EMA would have open positions once the bullish crossover would have taken place and held it until your selling criteria is met. How could you have closed this position? Depends on your selling method, you can choose stop-loss, trailing stop-loss, take profit or selling by strategy.
By having chosen strategy as a selling method, your position on BNB would have been closed on May 28th, therefore getting a return of 62,5% in 17 days.
Now, a bearish crossover in this pair has taken place and given the trending behavior of this coin, setting up an automated strategy with moving averages can give significant positive returns.
As we can see in the chart, the Exponential Moving Average (EMA) made a bullish crossover at the beginning of this bull run on May 11th. Using a strategy that incorporates EMA would have open positions once the bullish crossover would have taken place and held it until your selling criteria is met. How could you have closed this position? Depends on your selling method, you can choose stop-loss, trailing stop-loss, take profit or selling by strategy.
By having chosen strategy as a selling method, your position on BNB would have been closed on May 28th, therefore getting a return of 62,5% in 17 days.
Now, a bearish crossover in this pair has taken place and given the trending behavior of this coin, setting up an automated strategy with moving averages can give significant positive returns.