Coin exchange - binance.
The main trend is an uptrend. Formed an ascending channel.
The secondary trend is a downtrend. Formed a downward wedge .
Cycle 1 is about 370 days. +700%
Cycle 2 is about 470 days. +700%
Cycle 3 , if confirmed, about 570 days. +700% ?
The coin is promising for the accumulation of position, as long as the Binance exchange...
2nd Retest of a strong historical support / resistance level, with an easy invalidation level to spot. Not the highest probability set up, but high R and low risk. Seem like quite an obvious set up on both the 1D and 4H. The strong rejection at the first retest indicates strength and increases the likelihood of a notable rejection this time around.
Monfex is at your service and today we overview BNB/USDT.
On this chart, we see the support line to which BNB price is currently aiming inside the falling wedge. There I designated the buy zone ~ $ 10 as there is also a very strong trading volume, which acts as additional support.
Share your thoughts, ideas about the market under the chart....
. BINANCECOIN/TETHERDOLLAR is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 38.
. While the RSI and the price downtrend in the Daily chart are not broken, bearish wave in price would continue .
. There is a...