BNB Set-Up Update - Do or Die Zone
Hi Traders. This is an update to the set-up for #BNBUSDT below, do check it out to catch up with the price action analysis!
SO the market definitely surprised us. Now the major question is how are we going to react?
Are we going to test the resistance and fail once more? In that case, I believe well be going back to $14.
There does seem to be some evidence of bears winning this struggle, as this reaction is much more volatile than the last time it occurred (9)
On the other hand, this could end up being a Spring or Shakeout, which results in the absorption of supply and a confident return into the trading range.
At this point, we're FLAT, not yet fully bearish. But to be out of the danger zone we'd need to test the resistance-turned-support of $21.3 after the breakout!
Good luck, and I'll keep you updated and much as possible!
Please like and let me know in the comment section what you would like to see next!
SO the market definitely surprised us. Now the major question is how are we going to react?
Are we going to test the resistance and fail once more? In that case, I believe well be going back to $14.
There does seem to be some evidence of bears winning this struggle, as this reaction is much more volatile than the last time it occurred (9)
On the other hand, this could end up being a Spring or Shakeout, which results in the absorption of supply and a confident return into the trading range.
At this point, we're FLAT, not yet fully bearish. But to be out of the danger zone we'd need to test the resistance-turned-support of $21.3 after the breakout!
Good luck, and I'll keep you updated and much as possible!
Please like and let me know in the comment section what you would like to see next!