BNB/USDT – 30M – BUYThe pair Binance Coin/Tether (BNB/USDT) breaks through the descending trendline upwards
An ascent upwards to the next resistance level at 614.47 is expected.
Caution: A possible change in the direction of the support level at 577.06 should be noted.
Consider stop-loss settings accordingly.
Moreover a ‘Hammer’ candlestick chart pattern is discovered. The candles form ‘Hammer’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Hammer’ heading up is 60% (Bull Market) & 59% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 634.8 |
| 2nd High | 624.8 |
| Next High | 614.47 |
| Current Price | 595.350000000 |
| Next Low | 577.06 |
| 2nd Low | 570.06 |
| 3rd Low |
614.47 – 624.8 – 634.8 – 577.06 – 618.72 – 624.02 —
585.680000000 – 598.990000000 —
38.639784584169 – 57.252452357888 —
– —
614.47 – 1771795800
Trading Signals: CRYPTO – BNB – BNB/USDT – USDT – Hammer – – –