BNB/USD - Time to be careful, $75 ATH at resistance!

2021年2月6日

BNB went for it, hard. almost doubling in four days. Now we have set a new ATH at $75. Can we go higher? Maybe. However I have some concerns.

We have touched the top of our massive ascending channel, so a break above this level is unlikely. Our indicators are overextended and a cooldown is due. On 4h timeframe we're already correcting which may slowly move onto higher timeframes.

Therefore, do not BUY here... this is where you should have sold.

I see good support at $60 if we start correcting. If that will not hold the price then the next area where we should find support is between $40-30.

Breaking under $60 would mean we break the parabola, at which point we will go lower to the next levels of support.

My bias is bearish short term, if we hold at $60 I will turn bullish, but if we fall there, I will remain bearish.

So watch this price action and DO NOT FOMO into a coin just because it pumped, always check the big timeframe!

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