New 0.618 Fibonacci rejection. Triangle about to break.The 1D Triangle has extended to another 0.618 Fibonacci rejection at 10.6630 and BNBUSD remains mostly neutral on the short term (1D ADX = 24.067, CCI = -34.4623, Highs/Lows = 0.0000). The 1W Channel Down is still bearish though (MACD = -0.192, Highs/Lows = -1.0307, B/BP = -2.7842) and a cross below 9.05 is expected which will break the Triangle and allow our TP = 7.5154 to be accomplished.
Binancecoinusd
Triangle about to break lower. Channel Down continuation on 1D.The Binance Coin is on a bearish channel both on 4H (MACD = -0.021, B/BP = -0.0812) and 1D (MACD = -0.384, B/BP = -0.4405) but is currently on a deceleration due to the Triangle that is creating Higher Lows on 1D (Highs/Lows @ 000). If 8.89 breaks (most likely due to the underlying 1W bearish trend) then the Triangle is void and the Channel Down can continue to a Lower Low. We are still short on BNBUSD with a TP = 7.5154.
Lower High on 1D made. Bearish continuation.BNBUSD eventually made a Lower High on the 1D Channel Down (RSI = 38.939, MACD = -0.287, Highs/Lows = -0.6415, B/BP = -1.7404) and was emphatically rejected (STOCHRSI = 0.000, Williams = -89.646). This strong rejection was just above the 0.5 Fibonacci retracement level (11.773), which indicates that it is most likely to be sustainable. We remain short with TP = 7.5154.