Long

BNB/USDT : Broke above the resistance zone, Cup & Handle formed

Hello everyone 😃
Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it !

#BNB has formed a -cup & handle- recently and now it just broke above the major resistance zone.
Based on pattern's target, The depth of the pattern has measured around 105% ( 261 unit ) which is showing the minimum target of 56% ( 285 unit ) growth !

Also based on FIB retracement and FIB extension :

#BNB has retraced to 61.8% FIB's level after peaking high at $518.9 !
- So it means that #BNB is having a logical bullish bias and it's ready for next leg up after retesting the FIB's level.
Now Based on FIB extension levels, The main target of retracement is $792, Which is greatly matched with the pattern's minimum target !
And also it can surge to $1013.3 as the last target remains there...
But $792 is a logical target to lay on, But you need to manage the risks and have the lower targets on the surges of #BNB.

🔴 Any close below the broken resistance zone ( 100% FIB's level is located there neither ! ) will invalidate the bullish bias for #BNB !!!

Hope you enjoyed the content I created, You can support us with your likes and comments !
Attention: this isn't financial advice we are just trying to help people on their own vision.

Have a good day!
Helical_Trades

Helical_Trades

🔴 Don't forget to join our channels for FREE Premium stuffs !

TELEGRAM :
t.me/Helical_Trades

Instagram ( Persian - فارسی ) :
instagram.com/helical_trades/

Also on:

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.