Binance Coin(BNB): Waiting For Breakdown Of 200EMA
Updated
BNB coin is one of the starts of this week where we are seeing a surge to breakdown of 200EMA. As we have previously tested this zone multiple times, we are looking for a full-scale breakdown from it, which would activate a potential short position for us.
Swallow Team
Swallow Team
Comment
After an amazing breakdown from the 200EMA price, BNB has had a fast and amazing recovery, going back to the upper side of the 200EMA.
As we had a small breakdown (from a zone that has been working well previously), we are seeing that the downward movement has not yet finished itself.
We are looking for any potential re-tests of upper zones but end game is still the same for us!
Trade closed: target reached
And BNB has filled the target zone for us. It is not usual for us to do TA in a 2-hour timeframe, but we managed to pull it off. 6% of market price movement was captured!
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