Binance Coin: Possible Downward Movement. When to Buy?
Binance Coin / TetherUS BINANCE:BNBUSDT
It looks like the market wants to test the support at 21.00 one more time. The price bounced from the cloud and dropped below the uptrend line. It is a bearish signal. How the market can move after that, you can see on this chart. Just look at the price in August. The price bounced from the cloud, broke the uptrend line, and continued the downtrend.
This time we can face the same market movement. For this, the market will have to break 21.00 support level . Also, the downward movement is supported by DMI indicator. ADX line moves upward, and it confirms that sellers become stronger.
For the trend reversal and buy opportunities, the price will have to pass through the cloud and move above 23.00 resistance level . It will be possible to use this signal for opening long positions.
Source: TW DLavrov