Globally, the picture looks like a correctional movement in which the price tested the zone of 61.8% of the Fibo. grid, did not reach 78.6% (If the price had reached, the growth would have been steady now). But nevertheless, my pattern works with growth - a bearish trend - growth (the last movement is still in effect).
Basic levels for work until the New Year: 25.25 - The global level of resistance of which was twice in the test, the third test for strong resistance is likely to be final, that is, breaking. This has already happened after two tests 05.15.2019. This proves that the price is able to break it again. 19.45 - The local level of support inside the rising channel (which has been working well since 10.29.2019). Was already three times in the test on the daily time frame, most likely there will be a fourth test soon. 18.75 - The global level of support. The price may come here, but most likely it will repel. A new consolidation may also begin above this level, since at such significant levels volumes are usually large. Also, big players catch small players on such level with false breaks (i.e. lower price without fixing below the level). So, without fixing the price above this level, there is no need to even think about a decline. 16.70 - Local level of support. If the price falls here, then this will be a good chance for a set of positions, since many have limit orders here (that is, buying at a price reduction to this level). But to this level, sellers need to overcome the strong previous support level of 18.75. 14.40 - Global level of support. To which the price is unlikely to fall, as the picture as a whole shows growth. I will not exclude the option of reducing the price to this level. If this happens, then I will look at this moment on the hourly time frame.
Indicators: In CCI, there is no particular clear direction. For growth, interesting convergence or divergence and a double or triple bottom. So far, only hints of a small pullback. According to MAs, the trend is increasing. But since the movement begins in the horizontal direction, in the coming days it will probably be a test of the lower boundary of the channel, which is located at the level of 19.45.
Further expectations: If the price breaks through the local support level of 19.45, then it goes to the global support test of 18.75, which is likely to stop and repel the price. If then the price breaks through 18.75, then it will go to the red zone of the last consolidation (17.75-18.65). From this zone there will also be a small rollback to another support 16.70. If the price can be fixed above 16.70, then the price will go to the red zone retest (17.75 - 18.65). If the price rebounds from the global support level of 18.75, there will be a good opportunity to go to the upper red zone (21.50-22.95). In which there will be a set of positions (that is, a purchase for the further growth of the asset) and there will be volumes. But for many, this is a significant zone for a pullback, so here you need to wait for consolidation over the red zone (21.50-22.95), or at the upper boundary of the channel for growth. After that there will be a growth and test of the level of 25.25. There I will already analyze in more detail, also on the hourly time frame.
Since for many traders 50% of the Fibo. grid is the main one when trading, most of them will probably start buying up BNB earlier and pulling the price to 50%, i.e. 21.92.
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.