🔥 BNB Short Term Channel Trade

BNB has recently bounced off the lower support of the channel. Since the bounce was quite violent, I'm expecting a minor consolidation to happen in the coming hours. I've placed the entry at $270 to catch the consolidation and ride the wave further up.

Before entering this trade wait for the price to touch below the Entry line. Higher time frames yield a higher predictive power.

On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs/lows and round numbers. Do your own due diligence.

Happy trading!