BNBUSD: The Right Time for Investing

BNBUSD: The Right Time for Investing

WCVNSW - BNBUSD: The Right Time for Investing

If you are searching for a market for the long term trading, probably BNB coin is a good option for you. Based on the weekly timeframe , we have a buy opportunity. The local swing low allows us to draw a new uptrend line. The price broke the downtrend line, and it gives us a trend reversal signal. RSI confirms the price reversal and MACD histogram supports a possible upward movement. DMI does not support the strength of sellers.

If we combine all these signals, we will have the solid buy opportunity with the entry zone starting from the uptrend line, including the current prices, and up to 21.00.

Stop orders must be placed below 13.50 level and the local swing low for a case, if the price breaks the uptrend line and continues the downtrend. Profit targets should be placed based on the resistance levels.

If you decide to invest in this market, don’t forget that “all in” strategy is not for trading or investing. It is more about gambling. If I were a fan of BNB, I would invest maybe 5-10% in this coin and not more. Think about your goals and use the right part of your capital.

Published at Sat, 02 Nov 2019 15:26:55 +0000

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