BNB - 6h. Buyers shouldn't lose control of $230-235
Updated
For a month now, on the BNB market, market participants have been trading in a consolidation triangle, which is shrinking every day. After the sharp impulse of BNBUSDT price growth during February 17-20, sellers tried to take the initiative into their own hands. Their most dangerous attack was on February 23, when the price on the BNB market fell 43% in 3 days.
In our previous global idea, we indicated that a critical moment has come in the market:
While buyers still have a chance to test a new all-time high at $400. However, to do this, you need to keep the lower trendline of the triangle, which runs near the range of $230-235.
At the moment, given how other coins have fallen against the backdrop of the fall in the BTC market, the BNB price is confidently staying in the range of $250-255. Calmness of buyers and weakness of sellers indicate a high probability of a new growth impulse in the near future.
And even if the BTC price continues to fall to $45,000-46,000, it seems that the BNB price will not go below the critical range of $230-235. All buyers need at the moment is to ride out the storm. The first target is $300. Only after fixing above can you think of $390-400
___________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
In our previous global idea, we indicated that a critical moment has come in the market:
While buyers still have a chance to test a new all-time high at $400. However, to do this, you need to keep the lower trendline of the triangle, which runs near the range of $230-235.
At the moment, given how other coins have fallen against the backdrop of the fall in the BTC market, the BNB price is confidently staying in the range of $250-255. Calmness of buyers and weakness of sellers indicate a high probability of a new growth impulse in the near future.
And even if the BTC price continues to fall to $45,000-46,000, it seems that the BNB price will not go below the critical range of $230-235. All buyers need at the moment is to ride out the storm. The first target is $300. Only after fixing above can you think of $390-400
___________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
Trade closed: target reached
🎁 -20% on ALL trading fees OKX
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
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.