BNB / BTC Accumulation channel. Trend reversal zones. Coin workBNB is a Binance exchange coin, a very technical coin for obvious reasons.
The tool is very simple and predictable in trading. BNB is a brand of the Binance exchange.
In the global downward channel.
A lateral movement was formed inside it, which formed a horizontal channel with a pitch of 40%.
Now the price is at the bottom of the accumulation channel.
Potential formation of a figure of a triple bottom when the price goes beyond the downtrend line.
The reversal zones on which the development of further movement depends showed on the chart.
The critical zone and the trend fracture zone were also shown on the chart. It is important that the price does not fix below it.
Entrance.
1) Now with confirmation of support.
2) In case of a breakthrough or a pullback after a breakthrough of the downtrend line (red line, resistance line of the downtrend).
Stop loss.
Under key support levels during your entry into the market. Also consider coin volatility and the possibility of resetting Stop Loss before an upward movement.
Target.
Horizontal channel target + 40%
Triple bottom target from + 40% to 113%
BNB / USDT trading idea for January 14th.
BNB / USDT. Ascending channel. Cycle. Wedge. Reversal zones.
