BNBUSDT has almost always been above the 200EMA apart from the one time it spiked below but quickly recovered itself. We are now approaching the 200EMA and previous lower timeframe structure where price could possibly start another bullish leg.
Price can potentially move lower which is why we this will be a breakout trade - we enter on the break of the trendline with stops below the correction.
Price can potentially move lower which is why we this will be a breakout trade - we enter on the break of the trendline with stops below the correction.
Note
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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.