BNB hits hard resistance

2 thg 5, 2021

This is not financial advice, this is a first publish, just to try it out. Not TA, DYOR.

After an impressive rally this year BNB has had trouble pushing the ATH.
Again on May 1st it struggled all day to get a Higher high (HH) after meeting resistance it retraced a bit.
Although now it's currently oversold it still has a deep bearish diversion on the MACD.

It's currently on an up swing. But,
I'm gonna guess that this one will not quite pass the previous HH candle and instead it'll hit resistance again, backdown, and test the red dotted line before bouncing.

This is just a test publish for fun to see if it does retest, reject and bounce. I'm basing this on the fact that the 2 candles testing right side resistance wicked under the resistance line.

Happy Trading!

Gweilo

2 thg 5, 2021

Ghi chú

I just wanted to add to the case. On the way up following the yellow lines, you see 2 green Lower Lows (LL) that sent forth the uptrend. But on the way it was met with 3 (HH) that started a downtrend.

I'm thinking possibly it needs to find a Lower Low to bounce from and this little pump we just had wasn't it.

3 thg 5, 2021

Đóng lệnh: dừng lỗ

BTC moved far too slow to stop a hyper bullish BNB from pushing. But I would watch BTC to see if further rejection happens after it was stuffed at 58951. BNB may not continue to pump if a larger correction happens by a broken BTC resistance. BNB will most likely see ATH if in the coming day there is a swing up. I'm leaning towards BTC correction shortterm, DYOR.

Thanks!