BNB trade ideas
bnbHere's a quick look at BNB 2 hr chart. As we can see, the price has formed a falling wedge and is close to breaking out to the upside. Keep a close look on it!
The best entry would be, when the price breaks above the falling wedge with good amount of volume .
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The idea is: Buy the breakout from the falling wedge and take profits at the levels shown in the chart.
Targets:
1. 507$
2. 527$
- Profits can also be taken in the resistance zone .
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BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
BNB S/R Levels 1hr - 042421Looking at BNB and the 1-hr chart, watching the linear regression and the coin's test of 74.8, with the next lower support at 73.4. 73.4 is also a longer-term upward trendline. One thing to notice is the rising cumulative volume index. This is typically followed by a breakout. We'll need to see 73 hold for confirmation.
BNB to still hit target As BNB has gone past all time high, unable to use daily, weekly, or monthly support/resistant lines from last price action.
Looking at trend lines, possible to follow up to target?? I think it may find resistance. Interesting to see how it plays out.
FIB set to predict possible retracement on the weekly.
FIB Retracement Using Fib to find the retracement. I used this upward trend because it was the
timeframe I could see the clear upward trend.
- Have I used the correct time frame? 4Hour.
- Have I used the correct upward trend?
- Should I have used a lower time frame to find a
closer upward trend to the current candle? E.g 1 Hr or 30 min.
To me this chart is telling me BNB is in an danger zone, however I feel
I should have chosen an 1.5hour and found a upward trend
closer to the current candle.
Good opportunity to buy long term BNBMy strategy is to combine several techniques at once:
+ Price channel and trend line: help me identify the direction of the price,
+ Supply - demand: help me identify the reversal position,
+ Elliott wave: help me determine the cycle of price,
+ Candlestick patterns and price action: Help me enter the order at the right time.
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