BNB – Failed breakout – short biased
Binance Coin / TetherUS BINANCE:BNBUSDT
The secondary scenario from the last post prevailed (see related idea), but a breakout attempt from 440 resistance failed, and we have also broken a trendline from Feb 24th (in green)
There are several wave counts possible for this price action, so in these cases I normally take a different approach. Since trading is a game of probabilities, my primary scenario is that we will have a retest of the range lows at 360. Only a break above the green trendline or 440 resistance would change my mind.
