- BNB has been on a tear recently after bottoming out around $4.00
- We can see there have been a few CRUP candles printed on the Daily, which does show strength and the last one would have yielded you 20% while the one before that bringing home over 50%
- We did see ridiculous sell volume yesterday on the BTT event dropping prices back down sub-$6
- Price was solidly above all EMAs but we have now dropped below all of them, which isn't the best sign for longs
- We could see a support level near $5.30, which has been building up since its last run and the odds of a revisit are high now after this big drop
- Unless we push back above all the EMAs, that would be the spot to look for longs BUT keeping an eye on BTC is key as if we break to new lows BNB will not be spared
Thanks guys!
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.
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.