Emergency Trade setup $BNB : #BNBAnalysis
Price is in an Uptrend and has finally broke above $600-$620 resistance where it's got rejected several times in recent months. This could signal uptrend resumption to the next resistance of $720 for a +20% potential gain. It's now retesting that breakout level. Stop Loss at $547. (set a price alert).
Pattern: Resistance Breakout. Once a price breaks above a resistance zone, it signals that buyers have absorbed all the supply from sellers at this level and price can resume it's advance. Following a resistance breakout, the next closest resistance zone becomes a price target.
Trend: Short-term trend is Strong Up, Medium-term trend is Strong Up, Long-term trend is Strong Up.
Momentum: Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance: Nearest Support Zone is $500.00, then $450.00. Nearest Resistance Zone is $720.00.
