TICKER CODE: BNBUSD
Company Name: Binance
Industry: Blockchain & Cryptocurrency
Technical Analysis
1. Large Flag Pattern
2. Pennant / Flag forming downwards to complete the Large Flag Pattern
3. Fibonacci Retracement at 0.618 (Golden Zone)
4. **Note that the market could fall to the previous structure level at 310 which is also at Fibonacci 0.786 (Silver Zone)
5. Fibonacci Expansion Safe Take Profit Level 1 (Grey Zone) Also the length of Flagpole
6. Forecasted the Oversold Level in RSI
Entry: 380 - 310
Take Profit: 790
EXPECTED Take Profit in June - September from the entry of 310 - 380
This analysis is also an update from my previous BUY/LONG post as the market could not reach our initially Take Profit.
Company Name: Binance
Industry: Blockchain & Cryptocurrency
Technical Analysis
1. Large Flag Pattern
2. Pennant / Flag forming downwards to complete the Large Flag Pattern
3. Fibonacci Retracement at 0.618 (Golden Zone)
4. **Note that the market could fall to the previous structure level at 310 which is also at Fibonacci 0.786 (Silver Zone)
5. Fibonacci Expansion Safe Take Profit Level 1 (Grey Zone) Also the length of Flagpole
6. Forecasted the Oversold Level in RSI
Entry: 380 - 310
Take Profit: 790
EXPECTED Take Profit in June - September from the entry of 310 - 380
This analysis is also an update from my previous BUY/LONG post as the market could not reach our initially Take Profit.
Trade closed: stop reached
Market has formed a pennant and stopped out. My future entries will indicate stop-loss levels.
Related publications
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.
Related publications
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.