Binance Coin (BNB): Bollinger Bands Exploaded / Major Resistance
We are back with Binance Coin, where we are now looking at a slightly bigger timeframe.
What is catching our attention is still that strong and major resistance zone, (which is currently being tested, but also the Bollinger Bands, which have been exploaded complitely.
Usually, when Bollinger Band is expended like that near Resistance ( + we are in an overbought zone with RSI), there are some major moves to come soon.
There's of room to move for a healthy correction, so keep an eye!
Swallow Team
What is catching our attention is still that strong and major resistance zone, (which is currently being tested, but also the Bollinger Bands, which have been exploaded complitely.
Usually, when Bollinger Band is expended like that near Resistance ( + we are in an overbought zone with RSI), there are some major moves to come soon.
There's of room to move for a healthy correction, so keep an eye!
Swallow Team
Note
Binance Coin is still looking pretty pushy, not yet showing any weakness.
As the price is trying to break, we are waiting for a rejection, but what if we don't get it?
If we see a breakout, then we will have 2 options: a fakeout scenario or a nice re-test of the broken zone, which would result in a big bullish movement!
Note
Binance Coin is making new highs here, breaking that major resistance in Daily timeframe.
As our lower sell entry did not reach at all, we deleted it, and now we are looking at completely new scenarios: 2 Scenarios
1) Bullish Breakout from fakeout zone, right after we re-test and secure this zone there
2) Bearish Breakdown from current zone, where we would form a fakeout and move back to lower side of resistance.
Keep in mind that both RSI and Bollinger Bands are in overbought zone, which would mean a potential correction soon!
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⚡️ Short-Term + Mid-Term Trades
Keep an eye on us and you will not regret it. 😉
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🚨 Authentic Traders
⚡️ Short-Term + Mid-Term Trades
Keep an eye on us and you will not regret it. 😉
Telegram: t.me/+fiEDSn7M9pJkODA0
⚡️ Short-Term + Mid-Term Trades
Keep an eye on us and you will not regret it. 😉
Telegram: t.me/+fiEDSn7M9pJkODA0
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.