BNB/USDT 4HInterval Chart Review
Hello everyone, I invite you to review the chart of BNB in pair with USDT, on a four-hour time frame. As we can see, the price is moving in a downward trend channel, while a sideways trend channel is visible locally, which previously ended with another price drop.
As we can see, the upper part of the sideways trend channel is the beginning of the resistance zone from $539 to $553, only after breaking above this zone will the way for further increases towards the resistance at $589 and then further towards $614 open up.
Looking the other way, we see strong support at the $500 level, which is located at the lower border of the sideways trend channel, inside the descending channel. And the next strong support is the $462 level.
As we can see, the upper part of the sideways trend channel is the beginning of the resistance zone from $539 to $553, only after breaking above this zone will the way for further increases towards the resistance at $589 and then further towards $614 open up.
Looking the other way, we see strong support at the $500 level, which is located at the lower border of the sideways trend channel, inside the descending channel. And the next strong support is the $462 level.
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