BNB Double bottom in the making, Eve and Eve

5 Tem 2022

Chances are that the double rounded bottom (aka Eve & Eve) pattern is completed in the daily candle chart. Remember we need a breakout over the central peak (245.46$) dividing the two bottoms. If this happen, we can go long (entry 1 in the chart) or we can wait for a possible reject at the 50 EMA and support retest over the trend line to go long (entry 2). Or we could also enter a smaller amount into 1, TP at 50 EMA and then wait for retrace to get in with the bulk of your original intended position at 2. Whatever fits better your risk management. This can be a very profitable trade if it plays out with profits over 20%. I would TP at around 100EMA area, maybe lower if i see the upper movement stalls or reverse. Be aware that it may take days to complete.

NOT FINANCIAL ADVICE. Use this idea at your own risk.

7 Tem 2022

Not

As of time of writing, the formation keeps on building, getting closer to the breakout point of 245.46$ with daily volume also increasing which is a good sign.