BNB/USDT Breakout or Fake Breakout?

24. Feb. 2021

Just a beginner's view. BNB/USDT is finally trying to recover from a correction after it reached its ATH a few days ago. The chart is indicating a breakout process from the major channel resistance line with a fair amount of volume. If the breakout is valid, there is a chance for a pullback to 250 area and if it rebounds from the pullback point, the target price is 275 - 310 - 340. But, if it fails and breaks the 340-330 support area, it might be trying to retest the support in 200. Suggestions are welcomed. Thanks!

24. Feb. 2021

Anmerkung

Looks like the breakout is valid and there is a pullback to 258 as we predicted. The chart is currently trying to break its strong resistance at 275 and it needs a massive amount of volume right now. If it successfully breakout from 275-276, there is a high chance for it to retest 300-310. Let's see what will happen next.

25. Feb. 2021

Anmerkung

It didn't have enough upside pressure to break the 275 resistance and is going sideways for a moment