DannyC914

BNB support and resistance

Short
BINANCE:BNBUSDT   Binance Coin / TetherUS
Inverted cup handle (curve):
It fell from the high point of 307.5 to two tests of 272.3 without falling below 272.3. In the third test, it fell below 272.3. The inverted cup handle pattern was established, and the price reached the support price of 258.9. After that, the price rose above the inverted cup handle high of 292.0, and the type is invalid.
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After the price reaches the resistance 299.3, a engulfing pattern (arrow) appears, and here we should pay attention to the risk of falling.
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H&S top:
After the price fell below the neckline 276.2, the pattern was established. The price came to the support range of 258.9~262.7 and then rose to the same resistance at 299.3.
Although BNB broke through the downtrend line, it immediately encountered resistance at 299.3 and appeared in an engulfing pattern (arrow), and the price also fell back below the trend line.
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Pay attention to the support below:
285.7
253.1~259.7
238.7
215.6
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