BNBUSDT: New Buying Opportunity with 33.50$ Target
Binance Coin / TetherUS BINANCE:BNBUSDT
If Bitcoin doesn’t move down, we will probably see an upward movement in this market. The price bounced from 26$ support. After that, we got a new swing low higher than the previous one. The price moved above SMA50, and it gives us a bullish setup. RSI and MACD are bullish and support a further upward movement.
Here is an example of a long trade:
– The entry point should be above SMA50
– Stop orders must be placed below the local swing low and the uptrend line
– The main profit target should be at 33.50$ resistance
– Risk [er trade must be no more than 5% of the capital.
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Source: TW DLavrov