How to play $BNB? 🐂 & 🐻
If you think you got a good eye for how this situation is going to unfold then there's definitely plays to be made on BNB.
I see the $257-$337 area as one giant range.
Two scenario's 👇
If you think you got a good eye for how this situation is going to unfold then there's definitely plays to be made on BNB.
I see the $257-$337 area as one giant range.
Two scenario's 👇
Bull Case 🐂:
If you think the Fud is simply Fud then I think buying a retake of that $257 level should be good Risk/Reward in terms of a technical analysis perspective.
There is a good chance BNB will run back most of the losses if the Fud dies down and/or gets debunked.
If you think the Fud is simply Fud then I think buying a retake of that $257 level should be good Risk/Reward in terms of a technical analysis perspective.
There is a good chance BNB will run back most of the losses if the Fud dies down and/or gets debunked.
Bear Case 🐻:
If you think the situation will get worse you could wait for a bearish retest of the $250-257 area and target the white dotted lines.
Since those are all untapped lows they could cause a bit of a squeeze and move price from one into the other.
If you think the situation will get worse you could wait for a bearish retest of the $250-257 area and target the white dotted lines.
Since those are all untapped lows they could cause a bit of a squeeze and move price from one into the other.
Figured I'd give both scenario's looking at the chart. This trade, if you decide to take it at all, is heavily dependent on your view of the entire situation and what you think happens next.
Wanted to showcase the most unbiased approach I could give.
Wanted to showcase the most unbiased approach I could give.
My go to in times like these is to just let the chart do the talking.
That's why we trade with confirmations & invalidations.
Very often, the chart tells you all you need to know!
That's why we trade with confirmations & invalidations.
Very often, the chart tells you all you need to know!
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