Good morning traders,
We can see that BNB forms a double top on the daily then falls dramatically. It then bounces back a little near 355.5 (0.618 fibo), however still closing below the uptrend trend line.
I believe 350-355 is a super critical region. If it proves to hold as Support we may see an uptrend continuation on the daily. If it does not hold then we can expect a new downtrend. For now I’m betting more on the downtrend possibility.
We can see that BNB forms a double top on the daily then falls dramatically. It then bounces back a little near 355.5 (0.618 fibo), however still closing below the uptrend trend line.
I believe 350-355 is a super critical region. If it proves to hold as Support we may see an uptrend continuation on the daily. If it does not hold then we can expect a new downtrend. For now I’m betting more on the downtrend possibility.