BNB resistance becomes support
Updated
The recent breakout above the 500-510 zone is now finding support at that level. Looking to go long with a stop below the 500 area
Trade active
Now that the market has pushed off 500, that level will become my bullish invalidation point.Looking to add more to this position.
Initial target around 650, then looking for a break of ATH at 700 and beyond
Trade active
First target at 650 was hit.Price has now declined about and is hovering above the 500 area.
If it manages to stay above the 500 area I will look to play a move back to the all time highs
Note
As the general crypto correction continues a break below the 500 area on BNB will take me out of this trade for a small gain.The original idea was intended to play a move to new all time highs which has not happened.
Small profits were taken at 650 and some of those profits were added to a second position at 560 after price dipped and stayed above the resistance turned support around 500
Trade active
500 continues to act as supportI've added to my position here
Stop at 480
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.