🔥 BNB Triangle Break Out: Bullish Reversal
Like many other cryptos, BNB is currently seeing a fairly decent run-up since the sell-off of the 20th. With BTC showing strength, it's to be expected that one of the top cryptos will soon follow in Bitcoin's footsteps.
However, with Bitcoin Dominance rising, it might take a longer while for alts to catch up.
Nevertheless, things are looking good for BNB. In the mid-term I'm very bullish on this token. In the short-term either of two things can happen:
- A strong bullish move from BNB which launches the price through the green break out area. A (daily) close above ~$340 would be a nice long signal.
- A decline towards the yellow support area. I'm not expecting the price to go lower than $280 any time soon (unless something crazy happens in the market, of course).
As a mid-term target I'm eyeballing $380. If you're more bullish than me you could go for the $425 area.
Happy trading!
However, with Bitcoin Dominance rising, it might take a longer while for alts to catch up.
Nevertheless, things are looking good for BNB. In the mid-term I'm very bullish on this token. In the short-term either of two things can happen:
- A strong bullish move from BNB which launches the price through the green break out area. A (daily) close above ~$340 would be a nice long signal.
- A decline towards the yellow support area. I'm not expecting the price to go lower than $280 any time soon (unless something crazy happens in the market, of course).
As a mid-term target I'm eyeballing $380. If you're more bullish than me you could go for the $425 area.
Happy trading!
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