BNB, flap or flop?
Actualizado
In an attempt to avoid side action, I'm watching what BNB does at 287.3
If it's a bounce on 287.3, I think BNB will make a run for 302.5
If BNB breaks below 287.3, retests and rejects, then I think it'll be a decent retracement targeting 273.9
At the moment there are some Bear signs, but the volume and volatility just isn't there.
If Short setup gets confirmed:
Short Entry around: 287.3
Short Target #1: 273.9
273.9 is a strong level, if the price reaches it, I think it'll bounce rather than break below.
This is my Thesis, targets are purely hypothetical based on my analysis.
This is NOT Investment and/or Trading Advice.
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BNBUSDTBNBPERPBNBPERPBNBUSDTNota
If you managed to catch an entry around 287.3 (I haven't, was busy with another trade), 273.9 is a level to expect a reaction, set an alert when the price crosses it, just extra vigilance.Nota
As per the original idea, BNB almost reached the short target of 273.9 (actual Candle Low was 274.2), that's about 0.1% MOE, which is pretty great.Price bounced towards 302.5, an untested level from the original thesis.
Overall, I consider this a successful setup, which gave a chance to enter a Short and a Long trade relying on the charted targets.
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