Reversal point of view over BNB/USD pair
Hi Guys.
Here is my very first idea posted so please go gentle over me.
Binance BNB / USD
I believe we have reached reversal double top pattern. Chart displays two distinct peaks but also volume indicates that the new down trend has begin. First peak appeared as normal on uptrend with decent volume however over next three days volume decreased and second peak appeared on considerably lower trading volume. Price than went down breaking the neck line with boosted volume which I believe completed the pattern starting the new trend. I think price will drop to a region of $556 to once again retrace and fall further to resistance of around $500. Judging by short amount of time required to fully create the pattern and relatively low peaks we are not ahead of major tumble, more likely this coin will continue to trade sideway around $500 before any further move up or down.
Please mind I am not a financial advisor of any kind. This is my personal point of view / idea and I am more than happy to see what you guys think about it, even if you completely disagree ;)
All the best.
Here is my very first idea posted so please go gentle over me.
Binance BNB / USD
I believe we have reached reversal double top pattern. Chart displays two distinct peaks but also volume indicates that the new down trend has begin. First peak appeared as normal on uptrend with decent volume however over next three days volume decreased and second peak appeared on considerably lower trading volume. Price than went down breaking the neck line with boosted volume which I believe completed the pattern starting the new trend. I think price will drop to a region of $556 to once again retrace and fall further to resistance of around $500. Judging by short amount of time required to fully create the pattern and relatively low peaks we are not ahead of major tumble, more likely this coin will continue to trade sideway around $500 before any further move up or down.
Please mind I am not a financial advisor of any kind. This is my personal point of view / idea and I am more than happy to see what you guys think about it, even if you completely disagree ;)
All the best.
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