We are at a very strong resistance level on the weekly chart. It's going to take a lot of money to break the resistance where are lot of people have sell orders to short the market for a pullback.
Hanging man candle on the weekly is not helping the bulls.
On the fundamental side every broker has been reporting a huge amount of retail customers opening accounts...
3 higher targets, liquidate 1/3 of the position at each target.
The first target is the easiest with a cup and handle pattern and obvious reversal from the lows.
The 2 other targets are based on previous support and resistance levels, fibonacci and volume profile.
A reversal doji, a hanging man in formation, a huge pump from the lows. Earnings in 4 days (history of dump on earnings even on beat).
I believe we will retrace to the volume profile high around 365 USD.
I believe a bull flag is forming for BTC USDT, the price could go lower first before bouncing back to higher levels. My first target is 6200 USDT per BTC.
I would short anything above 6850 USDT with stop loss at 7000 and take profit at 6200.
Volume profile, Fibonacci, Bull flag formation, support and resistance levels all point to this scenario at this time.
My short term target for BNB is 280K sats and a longer term target of 360K sats based on fibonacci retracement, volume profile and previous support/resistance levels.
Fibonacci retracement and volume profile indicates high probability of going higher to the 50K sats area in the short term.
The volume profile at the current levels indicate high demand for the coin.
