BNBUSDT is looking like a great shorting opportunity

15. Okt. 2020

If we look at our weekly pivot points, the close price has been hitting and rejecting the R3, which is notoriously difficult to break through. Coincidentally, the fibonacci retracement level of 0.786, which is also notoriously hard to break through, lies right there with the R3 pivot point. However, if we use the body of the candle instead of the wick, we have a fibonacci retracement level of 1. Moreover, our stochastic indicator shows a potential cross of the fast line under the slow line. Also, MACD is also showing some weakness. However, RSI is under 70, but it is showing some weakness as well. Also, the US Dollar index (DXY) is looking very bullish currently, and when the US dollar goes up, BNBUSDT goes down in value.

15. Okt. 2020

Anmerkung

EDIT: I was using Fibbonacci pivots, so instead of it being the R3 value, on traditional pivots it is the R2 value, which is also extremely difficult to break through.