BNB/USDT 4HInterval Review
Hello everyone, I invite you to review the chart of BNB in pair with USDT, also on a four-hour interval. Let's start by marking with a yellow line the local downward trend line from which the price came out on top. However, at this point you can see that despite the top leaving the downtrend line, the price is moving just above it in a downward movement.
As we can also see, the attempt to return above EMA Cross 200 and, consequently, to a strong upward trend was unsuccessful and we quickly returned to the previous level.
Now let's move on to marking the support places. We will use the Fib Retracement tool to mark supports, and as you can see, the price has returned to the strong support zone from $215 to $210, but if the current zone does not hold the price, we may see a drop to the strong support level of $203.4.
Looking the other way, we can similarly mark places where the price should encounter resistance on the way up. And here, as the first resistance, we have a zone from $219 to $223, which rejected the price, only after breaking it higher will we be able to see an attempt to attack the resistance levels at $228, and then another resistance at $234.9.
The CHOP index indicates that the energy has been used and we are currently experiencing a slight increase, the STOCH indicator also shows a strong depletion of energy, which has slowed down the price declines, while the RSI shows a strong deviation to the lower part of the range, which creates a lot of room for increases, but before that we may still see an attempt to go down prices a little lower.
As we can also see, the attempt to return above EMA Cross 200 and, consequently, to a strong upward trend was unsuccessful and we quickly returned to the previous level.
Now let's move on to marking the support places. We will use the Fib Retracement tool to mark supports, and as you can see, the price has returned to the strong support zone from $215 to $210, but if the current zone does not hold the price, we may see a drop to the strong support level of $203.4.
Looking the other way, we can similarly mark places where the price should encounter resistance on the way up. And here, as the first resistance, we have a zone from $219 to $223, which rejected the price, only after breaking it higher will we be able to see an attempt to attack the resistance levels at $228, and then another resistance at $234.9.
The CHOP index indicates that the energy has been used and we are currently experiencing a slight increase, the STOCH indicator also shows a strong depletion of energy, which has slowed down the price declines, while the RSI shows a strong deviation to the lower part of the range, which creates a lot of room for increases, but before that we may still see an attempt to go down prices a little lower.
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.
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.