I have been closely observing the behavior of the BNB/USDT candlestick chart, and what is happening in the market is fascinating. Currently, the price is consolidating in a clear range: resistance is around 600 USDT and support is at 475 USDT. Now, this might seem obvious, but… does everyone know how to really profit from it?

Let me show you something interesting:

  1. On 6/06/2024 a downtrend began that lasted until 04/07/2024, when the price touched the support and reversed its course (28 days of decline before the reversal).

  2. Then, on 07/21/2024, the price hit the resistance and fell again until 08/04/2024, when it bounced off the support (14 days downtrend).

  3. Then, on 08/23/2024, history repeated itself: the price hit the resistance and fell until 09/05/2024 (13 days before the reversal).

Now, here's where things get exciting: on 09/27/2024, after 6 days of trying to break the resistance, the price seems to be starting another downtrend, which has been going on for 4 days now.

The big question is: will the pattern continue?

Will we see a similar decline lasting another 10 days before reaching the support level around 475 USDT?

Could this be the perfect time to start planning strategies using Fibonacci retracement and placing smart buy orders? Getting ahead of the market is possible, but are you ready to take action?

$BNB
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Disclaimer:

This analysis is for informational purposes only and should not be considered financial advice. Please remember that all cryptocurrency investments involve risk and you should do your own research before making any trading decisions.