Comprehensive analysis of BNB vs USDT on 4-hour frame:
I will rely on Japanese candlesticks in the analysis 〽️
• The current bullish candle looks strong, but you should be careful of potential resistance at the 99-candle moving average ($578.9) which may be a barrier to the continuation of the rise
Also at #WeAreAllSatoshi $BNB
4. Support and resistance levels:
• Support: There is strong support at $561, a level that is likely to provide a good rebound if the price drops to it.
• Resistance: There is strong resistance at $578.9 (99-candle moving average), and any break above this level with strong trading volume may push the price towards higher levels such as $591.9 or even $618.6.
Buy entry:
• Buy entry: If the price succeeds in crossing the 99-candle moving average ($578.9) and holds above it, a buy trade can be entered with the aim of reaching the $591 or even $618 levels.
• Stop loss: The stop loss can be placed at $561, which is a strong support level.
Sell entry:
• Sell entry: If the price fails to break the $578.9 level and starts to reverse, a sell trade can be considered with the target of the $561 levels.
Stop loss above 580
Summary:
• Buy: If the price breaks the $578.9 level and holds above it.
• Sell: If the price fails to break the $578.9 level or a bearish reversal appears.