Watching for Smart Money in BNB/USDT Hello everyone,
Hope all is well. Thought I would expand on the topics yesterday by looking at the daily perspective of BNB/USDT. As I am looking wide and starting to hone in. The recent uptick causes excitement for some life. It is important to layout what is ahead of BNB. Where are the decision points for smart money. To help people plan on important price point battles on either direction.
What did I do:
• Drew horizontal rays for resistances/supports
• Drew a Fibonacci retracement
• Drew date ranges
Setting:
I will be pointing out the different resistance lines in order by date as we saw a descend in the market from ‘18 and on. Makes it easier for me to report it.
December 7th, 2018 – Support $4.087
June 22nd, 2019 – Resistance $39.469
February 13th, 2020 Resistance $27.301
March 13, 2020 – Support $6.37
Test:
Our nearest test is to the test our support of .1070. As BNB has made the recent jump to turn the resistance level into a support level. Some encouraging signs. Our next big daily test seems to be at the $.1963
Ideals:
Bullish Idea: An encourage sign is if we can break above $20 mark and have that be a marker of support.
Kangaroo Idea: If bull run loses steam, a price above $14.50-15.00 would signal the market going sideways for BNB.
Bearish Idea: If price goes below $14.50-15.00 range, the trend would indicate downward
