BNB/USDT Daily View: Descending Triangle 190 Before 340?
BNB/USDT is currently forming another major descending triangle on its daily chart .
The current situation indicates a strong selling power with some candle being a bearish one like a gravestone doji (although it's not that "fresh" or perfect). Another reason behind this selling power might be because it is near weekend. There is a high odds that the price will go down to the bottom of the triangle, 190.
From here (190), there are 2 possible scenarios. A, will be more likely, where BNB/USDT will rebound and try to break its pattern. If the break out does happen, the nearest target is 270-280 and for a longer term 340-350. Otherwise, if breakdown happens, the next line of support will be at 150-140. What do you think?
Just a beginner's view. Suggestions are welcomed!
Thanks!
The current situation indicates a strong selling power with some candle being a bearish one like a gravestone doji (although it's not that "fresh" or perfect). Another reason behind this selling power might be because it is near weekend. There is a high odds that the price will go down to the bottom of the triangle, 190.
From here (190), there are 2 possible scenarios. A, will be more likely, where BNB/USDT will rebound and try to break its pattern. If the break out does happen, the nearest target is 270-280 and for a longer term 340-350. Otherwise, if breakdown happens, the next line of support will be at 150-140. What do you think?
Just a beginner's view. Suggestions are welcomed!
Thanks!
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.