BNB looking good today

2021年1月28日

Taking a look at the 4h chart today , BNB is looking like it has closed above the local descending trendline.

On the SIC indicator we can see that the last candle has also triggered a green (buy) dot. another confirmation in the pocket. On the bottom side of the chart, on the sublime wave indicator we can see that we have an ascending trend in the waves, it is mild but the direction seems constant, the potential trade can net us about 7.3% in profit, and it's based on the local fib resistance at the $45 mark.

So what is different from before? This time we are over the descending trendline, even if it's not a long one, the break of an existing pattern indicates a potential directional change.

Why this can be invalidated:

Because we are in a consolidation phase, this simple setup can be invalidated simply by the price continuing to channel and dropping volume at the same time.