BNBUSDT Daily S/R| VAH, .618 Fib| Price Action Context
Evening Traders
Today’s analysis – BNBUSDT – trading at a key resistance level where a rejection is probable,
Points to consider,
- Price action SFP
- Daily S/R Resistance
- .618 Fib Confluence
- Low Volume
BNBUSDT’s immediate price action is corrective and is trading at a level of clear resistance, that is the daily level and the VAH, allowing for a bearish bias.
The current volume is below average, indicating a rise fuelled by short squeeze; an influxes is needed to break this flow.
Price action is to be used upon discretion/ management when executing this trade, invalidation is multiple candle closes above $2.88.20.
Hope this analysis helps,
Thank you for following my work
And remember,
“If you can’t take a small loss, sooner or later you will take the mother of all losses.” – Ed Seykota
Today’s analysis – BNBUSDT – trading at a key resistance level where a rejection is probable,
Points to consider,
- Price action SFP
- Daily S/R Resistance
- .618 Fib Confluence
- Low Volume
BNBUSDT’s immediate price action is corrective and is trading at a level of clear resistance, that is the daily level and the VAH, allowing for a bearish bias.
The current volume is below average, indicating a rise fuelled by short squeeze; an influxes is needed to break this flow.
Price action is to be used upon discretion/ management when executing this trade, invalidation is multiple candle closes above $2.88.20.
Hope this analysis helps,
Thank you for following my work
And remember,
“If you can’t take a small loss, sooner or later you will take the mother of all losses.” – Ed Seykota