We see bullish price action with consistent higher-highs and lower-lows. That's why we will be looking for a long setup. Does this mean we can immediately include BNB in a trade or our portfolio? No, is the answer to this question. Buying here is like trying to jump on a moving train. The best possible thing we can do here is trying to find a good and safe entry point. I did some analysis to find out what the best entry point is to get into a trade. I can't stress enough to put in a stop-loss to manage your risk and look for buying opportunities on lower levels. It is not financial advice. Do your research and think for yourself..
With the knowledge we have, it is time to plan our trade setups. Because we are hitting a resistance level, there will be a high probability that we will see a retracement. That means that the price will go down for a short period to then continue up. Our first entry point will be the tightest. If this entry-level fails to push up the price. We will be looking for the second entry point. This one has been tested before. (it is not financial advice)
You can use the last take profit as a moon bag. So you can make even more gains. Just move up your stop-loss so when the price drops you can secure your profits.
Trade 1 long setup (BNB)
Entry : 448.3
Stop-loss : 421.6
Take Profit : (20%) 516.5, (20%) 564.7, (20%) 611.3 , (40%) 638.3
Trailing : 5%
Trade 2 long setup (BNB)
Entry : 390.9
Stop-loss : 367.3
Take Profit : (20%) 445.9, (20%) 516.5, (20%) 564.7, (20%) 611.3 , (20%) 638.3
Trailing : 5%
With the knowledge we have, it is time to plan our trade setups. Because we are hitting a resistance level, there will be a high probability that we will see a retracement. That means that the price will go down for a short period to then continue up. Our first entry point will be the tightest. If this entry-level fails to push up the price. We will be looking for the second entry point. This one has been tested before. (it is not financial advice)
You can use the last take profit as a moon bag. So you can make even more gains. Just move up your stop-loss so when the price drops you can secure your profits.
Trade 1 long setup (BNB)
Entry : 448.3
Stop-loss : 421.6
Take Profit : (20%) 516.5, (20%) 564.7, (20%) 611.3 , (40%) 638.3
Trailing : 5%
Trade 2 long setup (BNB)
Entry : 390.9
Stop-loss : 367.3
Take Profit : (20%) 445.9, (20%) 516.5, (20%) 564.7, (20%) 611.3 , (20%) 638.3
Trailing : 5%
We see bullish price action with consistent higher-highs and higher-lows