2023-09-16 09:51:48 ET
Trade idea summary
- Buy/sell asset: Buy BNB/USDT
- Entry price: 211.6
- Stop loss: 208.9
- Leverage: 3x
- Take profit 1: 215.0
- Take profit 2: 219.0
- Take profit 3: 224.0
- Timeframe: 1-2 weeks
- Maximum profit: 17.58%
- Maximum loss: 3.84%
BNB/USDT chart and technical analysis
BNB/USDT is recovering from the major drop in the last couple of months. Price is indicating a bullish trend in making. The appearance of a bullish head and shoulder pattern is a clear indication of the coming uptrend.
Price has closed above the previous high and will possibly make a pull-back and retest the 211.6 support level before heading for new highs. Almost all major Crypto coins are making a recovery.
The buy signal is based on multiple confirmations like reversal head and shoulder pattern, price breaking above the previous high and bullish order block around 211.6 support level.
Binance coin fundamental analysis
As it’s weekend there will be no major high-impact news that can impact the market substantially. Moreover, the price will also remain calm on Monday as there is no major news event on Monday either.
BNB to USDT trade setup takeaways
- This signal has been sent after multiple confirmations.
- Multiple take-profit levels have been added to secure profits along the way.
- Stoploss has been placed below the major support level with the least probability of getting hit.
- This setup is valid for weeks.
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Binance coin (BNB) signals buy opportunity against USDT
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