#BNB/USDT#BNB
The price is moving within a descending channel on the 1-hour frame, adhering well to it, and is heading for a strong breakout and retest.
We are seeing a bounce from the lower boundary of the descending channel, which is support at 517.
We have a downtrend on the RSI indicator that is about to be broken and retested, supporting the upward trend.
We are looking for stability above the 100 moving average.
Entry price: 558
First target: 573
Second target: 591
Third target: 614
Bnbbtcshort
BNBBTC ShortTime Frame: 4H
Symbol: BNBBTC
Entry: 0.009393
TP: 0.008392
SL: 0.010452
Bias: Short
The pair is trending short but the momentum and the oscillations in the last week is not very adventitious. The price action is creating a downward trajectory which gives us optimism to think about a short opportunity.
BNBBTC ShortTime Frame: 4H
Symbol: BNBBTC
Entry: 0.009362
TP: 0.008736
SL: 0.009832
Bias: Short
This instrument is demonstrating a short bias. A strong rejection of upward moves in different verticals of cryptos has created a selling opportunity . This trend may continue with some checks and balances and we must trade any instrument carefully so that we can escape from any hidden liquidity traps.
BNBBTC ShortTime Frame: 4H
Symbol: BNBBTC
Entry: 0.009545
TP: 0.008814
SL: 0.010081
Bias: Short
For BNBBTC we going short. Considering the recent price actions ,candlestick patterns and dynamic support and resistances ,it is evident that the bias is short and therefore we are to go for a sell trade.