BNB Contraction Triangle
After rapid bull (unsustainable) the trends slows down. It's positive for a longer bull market. Rapid upstream creates inevitably a lack of liquidity which in turn bring the market down.
Here we can see:
- resistance on 258 USD
- multiple supports all indicating uptrend at a slower place
Possible trade: entering on a break at 258 before end of November. Market to be watched, if the contraction continues with higher and higher support line, its a positive sign for another bullish wave.
Be cautious, the overall market seems tens and likely to retrace in the 220-230 area rapidly if the contraction triangle fails.
Here we can see:
- resistance on 258 USD
- multiple supports all indicating uptrend at a slower place
Possible trade: entering on a break at 258 before end of November. Market to be watched, if the contraction continues with higher and higher support line, its a positive sign for another bullish wave.
Be cautious, the overall market seems tens and likely to retrace in the 220-230 area rapidly if the contraction triangle fails.
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