BNB done correcting or ready for another leg down?
BNB bounced from 340 USDT support level . Which was an oversold bounce. There ain't no trend reversal yet.
Currently BNB is sitting in a support block (grey block). Which is usually a bearish sign. It needs to hold here, or we gonna have a drop to 359 and thereafter 340 USDT. Before possibly making a bullish divergence . CCI is still oversold. Price is below the Ichimoku cloud which are bearish signs as well. I will evaluate once the monthly price closes.
Right now BNB is in a no trade zone for me. Another leg down or sideways chop is what I expect. Personally I don't try to buy bottoms, I prefer to see a strong bullish candle first. I will wait for the 'Supertrend Ninja - Clean' to give a bullish signal (green vertical background color). Before making any Long trades. Otherwise I prefer to wait the correction out. Currently the trend is still bearish (red vertical background color).
Supports and Resistances are highlighted as grey blocks. Profits can be taken at each level.
Thank you for reading.
Namasté 🙏
Disclaimer: Ideas are for entertainment purposes only. Not financial advice. Your own due diligence is highly advised before entering trades. Past performance is no guarantee of future returns.
Currently BNB is sitting in a support block (grey block). Which is usually a bearish sign. It needs to hold here, or we gonna have a drop to 359 and thereafter 340 USDT. Before possibly making a bullish divergence . CCI is still oversold. Price is below the Ichimoku cloud which are bearish signs as well. I will evaluate once the monthly price closes.
Right now BNB is in a no trade zone for me. Another leg down or sideways chop is what I expect. Personally I don't try to buy bottoms, I prefer to see a strong bullish candle first. I will wait for the 'Supertrend Ninja - Clean' to give a bullish signal (green vertical background color). Before making any Long trades. Otherwise I prefer to wait the correction out. Currently the trend is still bearish (red vertical background color).
Supports and Resistances are highlighted as grey blocks. Profits can be taken at each level.
Thank you for reading.
Namasté 🙏
Disclaimer: Ideas are for entertainment purposes only. Not financial advice. Your own due diligence is highly advised before entering trades. Past performance is no guarantee of future returns.
Beware of scammers. I do NOT have Telegram, Discord, Instagram, Twitter, Youtube or Facebook.
Tradingview is the only channel I use.
Tradingview is the only channel I use.