BNB LTF Analysis

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  • BNB is moving in an Ascending Triangle.
  • BNB managed to get above the 21 & 50 EMAs on the 4H.
  • The area between 253 – 267 is strong resistance. Above 267, the risk of a breakdown is much reduced.
  • IF BNB fails to break through resistance the next supports are:

  1. 238 USD.
  2. 231 USD.
  3. 220 USD.

  • In my opinion, BNB’s outlook is positive, and I do not think it is likely to drop below the 220$ level.

NFA.
What do you think? Please share in the comments.
Best wishes to all.

Penafian

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