Hey, I am back with another idea.
This time on BNB.
Binance coin has seen its breakout few days ago due to exciting news with its own blockchain.
Now we are looking at Pennant, called descending triangle.
"The descending triangle is another continuation pattern, but this triangle is a bearish pattern and is usually created as a continuation during a downward trend. Occasionally it can be seen as a reversal during an upward trend (the opposite of the ascending triangle pattern,) but it is considered to be a continuation"
Yes, the Descending could be bearish, but can be even bullish, I actually seen more bullish than bearish.
10 700 is the key level you need to watch, if BNB drop to to 10 590, dont hold no more. Look for rebuy at support if you are interrested in this token, If BNB wont drop, we can easily go to 13 375 sat, which is about 20%.
Indicators
Volume looks really great on the order books.
RSI is OK, we just can fall under 35.
BB getting tighter, nice.
I hope my chart has made you some things about BNB clear, and you know now, what we are on.
If you agree or dissagre, please, let me know in the comments down bellow.
Likes are appreciated.
If I will get a little bit of attention, I will update.
Thanks for your time and good luck trading!
Ps. the pennants like to overextend and then break:).
This time on BNB.
Binance coin has seen its breakout few days ago due to exciting news with its own blockchain.
Now we are looking at Pennant, called descending triangle.
"The descending triangle is another continuation pattern, but this triangle is a bearish pattern and is usually created as a continuation during a downward trend. Occasionally it can be seen as a reversal during an upward trend (the opposite of the ascending triangle pattern,) but it is considered to be a continuation"
Yes, the Descending could be bearish, but can be even bullish, I actually seen more bullish than bearish.
10 700 is the key level you need to watch, if BNB drop to to 10 590, dont hold no more. Look for rebuy at support if you are interrested in this token, If BNB wont drop, we can easily go to 13 375 sat, which is about 20%.
Indicators
Volume looks really great on the order books.
RSI is OK, we just can fall under 35.
BB getting tighter, nice.
I hope my chart has made you some things about BNB clear, and you know now, what we are on.
If you agree or dissagre, please, let me know in the comments down bellow.
Likes are appreciated.
If I will get a little bit of attention, I will update.
Thanks for your time and good luck trading!
Ps. the pennants like to overextend and then break:).
Trading ditutup: target tercapai:
formed Cup and handle with breakout