Ok, so taking into consideration what's been going on in the market. We can notice a few things with BNB. First off it correlates very nicely when bitcoin pumps, generally. Also we know it holds well when Bitcoin dumps. It has been a safe coin per say.
For the last few weeks I have noticed it hold shit structure. It's been in somewhat of a channel. You can see it on the Daily chart pretty clearly:
On the 4hr we can see an uptrend established. As bitcoin pumps and dominance rejects at the trendline, I expect this to retrace and fill my orders i have down to 2700 and hold that bottom trendline. If it were to break, I would walk with a 4% loss and I would buy at the lower trendline of the channel which I expect there to be many buyers if we get there.
You always have to have a back up plan. sometimes things work out just as you plan. But when they don't and the market changes you must have a back up or exit plan you can execute with ZERO EMOTIONS!!!
For the last few weeks I have noticed it hold shit structure. It's been in somewhat of a channel. You can see it on the Daily chart pretty clearly:
On the 4hr we can see an uptrend established. As bitcoin pumps and dominance rejects at the trendline, I expect this to retrace and fill my orders i have down to 2700 and hold that bottom trendline. If it were to break, I would walk with a 4% loss and I would buy at the lower trendline of the channel which I expect there to be many buyers if we get there.
You always have to have a back up plan. sometimes things work out just as you plan. But when they don't and the market changes you must have a back up or exit plan you can execute with ZERO EMOTIONS!!!