BNB/USD is retracing to the 0.618 Fibonacci level around $595.7, a key resistance zone. If the price fails to break above, a continuation to the downside is likely.
๐ Entry: Around $593-$595
๐ฏ Target: $588.1, with potential extension to $580
๐ Stop Loss: Above $597.4
The setup aligns with the downtrend structure and Fibonacci confluence. Will the bears take control?
๐ก Risk Management: Always follow a risk management strategy and never risk more than you can afford to lose.
๐ Disclaimer: This is not financial advice. The content is for personal record-keeping and educational purposes only. Traders should conduct their own research before making any trading decisions.
๐ Entry: Around $593-$595
๐ฏ Target: $588.1, with potential extension to $580
๐ Stop Loss: Above $597.4
The setup aligns with the downtrend structure and Fibonacci confluence. Will the bears take control?
๐ก Risk Management: Always follow a risk management strategy and never risk more than you can afford to lose.
๐ Disclaimer: This is not financial advice. The content is for personal record-keeping and educational purposes only. Traders should conduct their own research before making any trading decisions.
Trade closed: target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.