BNB just had a MACD cross on daily and momentum is building for an up-trend towards $30. We are also in a big ascending channel for months with a last leg up due to test ATH.
Price has also broken out of local diagonal resistance, retested it and then went up (in green circle). This all confirms we can expect a continuation. A proposed path in green for the next few days.
If momentum keeps building up as we go higher, we may retest ATH at around $37-38 later this month.
Possible trade: Long the retest of local support at around 28$. Keep a tight stop loss under. A good 10% gains can be in play. If momentum keeps building this trade can be left open until we re-test ATH levels. Cut the trade if we lose momentum as indicated by the parabola in pink or we break the big diagonal support.
Caution: Keen a close eye on BTC price action as we may correct in the future for some break in the parabolic run.
Stay safe and manage your risk properly.
Price has also broken out of local diagonal resistance, retested it and then went up (in green circle). This all confirms we can expect a continuation. A proposed path in green for the next few days.
If momentum keeps building up as we go higher, we may retest ATH at around $37-38 later this month.
Possible trade: Long the retest of local support at around 28$. Keep a tight stop loss under. A good 10% gains can be in play. If momentum keeps building this trade can be left open until we re-test ATH levels. Cut the trade if we lose momentum as indicated by the parabola in pink or we break the big diagonal support.
Caution: Keen a close eye on BTC price action as we may correct in the future for some break in the parabolic run.
Stay safe and manage your risk properly.
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