BNB/USDT – 4H – SELLThe combination Binance Coin/Tether (BNB/USDT) moves from the bearish trendline downwards
A continuation of the bearish trend down to the next support level at 790.79 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 941.06 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘%K crosses below %D’ indicator layout is detected. The indicator shows ‘%K crosses below %D’. this is usually a bearish signal. The currency pair is likely to fall.
Furthermore a ‘Bearish Engulfing’ candle chart pattern is existing. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1019.56 |
| 2nd High | 949.77 |
| Next High | 941.06 |
| Current Price | 842.640000000 |
| Next Low | 790.79 |
| 2nd Low | 745.11 |
| 3rd Low | 730.01 |
941.06 – 949.77 – 1019.56 – 790.79 – 887.88 – 880.8 — 47.945580156092 – 42.852290425069 — 94.641550841258 – 90.306649821982 – 94.595105195285 – 93.173361011846
Trading Signals: CRYPTO – BNB – BNB/USDT – USDT – Bearish Engulfing – – –