BNBUSDT 4H - Finding good support, looking for clear skies
Hi everyone,
I am not giving specific targets or stop loss levels, but a rough insight. I am bullish on BNB, not only for upcoming news, but also because it has a different pattern than most of crypto assets.
There is a longer term trend which has been respected, as you can see in the long trend line. The bearish short term trend stopped exactly in that confluence, together with the 0.382 Fibonacci retracement, which would confirm that the main trend is strong. In addition, we see some resistance on that red cloud that Ichimoku indicator is showing, but if this is surpass then there will be clear skies ahead.
Buy entry: Now or any level between 29 and 32 units.
TP 1: 35
TP 2: 40
If you can trail profit go for 40 and above
SL: 28
*Not financial advise, just sharing my ideas :)
Feel free to give your feedback/opinion. Thanks for reading!
I am not giving specific targets or stop loss levels, but a rough insight. I am bullish on BNB, not only for upcoming news, but also because it has a different pattern than most of crypto assets.
There is a longer term trend which has been respected, as you can see in the long trend line. The bearish short term trend stopped exactly in that confluence, together with the 0.382 Fibonacci retracement, which would confirm that the main trend is strong. In addition, we see some resistance on that red cloud that Ichimoku indicator is showing, but if this is surpass then there will be clear skies ahead.
Buy entry: Now or any level between 29 and 32 units.
TP 1: 35
TP 2: 40
If you can trail profit go for 40 and above
SL: 28
*Not financial advise, just sharing my ideas :)
Feel free to give your feedback/opinion. Thanks for reading!
Trade active:
Price got out from the cloud with good volume. Clear skies ahead.
Comment:
TP1 HIT