Possible local top for BNB

25 giu 2022

Previous parallel channel coming into play again. The support from that channel is now acting as a resistance. BNB will likely pull back from here and return to about $200-205 before making the next move up. I expect BTC to also pull back from its current level and go test the 18.5-19k zone. We have seen a period of sideways movement after every significant local bottom and this shouldn't be any different imo. I don't expect a breakdown of any sort yet (probability wise). The same way they took us to 32k from 26k, before bringing us down to 17k. Right now the range is 18-21/22k. One more down move to 18 and then we likely go for 25. Then 14-15k. This is all based on what we experienced the last few times we were in this situation. Trade safe and always use stop loss.