$BNB - Hints At Bullish Reversal - Shapes mean nothing *Smart $"*SMT = Smart Money Theory = everything you think that is not retail related to trading. First, SMT does not believe that triangles, wedges, trendlines, channels, harmonics, etc. has any effect on how price reacts. I'm Sorry but you won't convince me that Bitcoin knows it has created a triangle and that it knows how to react from that? Nah, it remembers price levels, that's it. The second is to recognize that the price is not random, it is set by an algorithm controlled by those that control the asset. The Third thing to remember is price will move toward attacking where there is Liquidity (Equal Highs, Equasl Lows, phantom Trendlines etc.) and Balance (Fair Value Gaps, Liquidity Voids.) That's the basics. The rest is very unique in the vocabulary you need to have and the concepts that wrap around these ideas.
As for the BNBUSD chart, It seems as if the current state of the chart has fulfilled a 4-hour fair value gap. It has created sell-side liquidity to attack which is why I believe it will go lower towards equal lows. Additionally, if y9u put a Fib on it, The "Discounted" area doesn't begin until gets below the equal lows. I personally have an entry at the median of hourly Bullish Order Block which is about 358-359. However, it could easily get into and fill the 4 hour fair value gap which is the yellow rectangle area between 345 and 354. After that I see more consolidation and eventually the run-ups to fill gaps and voids like the area near 378-385 up to a bearish order block at 454. Just my two cents, we shall see what the chart pushers want to do with that chart.
I personally shorted it at 374 and currently at 371.42. Crossing my fingers it goes as planned
Good luck traders :)
