i learned something with time in tradining, do not touch something went up already!!, if you miss the train, you don't try to grab like mad when it pass, you wait next one.
so BNB Rushed to 350$ so quick and so strong, why ? because we have a strong FOMO on Binance Chain, less fees, Swap tokens cheapers, liquidity pools.
it have also same supplies BTC King and they Burn BNB. So yeah it have to up...
So for now we can see we have a strong demand Zone around 250$ (38.2 Fibo Retracement) but imo i won't touch it and wait. it's good to gamble but its better to think a bit.
if we miss and BNB start to pump more, well we will take the next train..
So if BNB down this the way to play it :
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Buy Zones :
- 220$ ( Fibo retrace 50 - Some will try to get BNB at this price thinking it will not back to 200$ )
- 200$ ( EMA50 H4 - Acting as Strong Support for now - Fibo retrace 61.8)
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Take Profits :
- TP1 : 390$ ( Security TP at least Take Profit 50% of your invest)
- TP2 : 480$ ( Lower than 500$ !)
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Stop Loss :
180$ or keep some juice to rebuy around 150$ (EMA100 H4).
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Like always follow BTC moves cuz it can shakeout all markets ! Be Safe !
Happy Tr4Ding !