BNB - Broke resistance - What's next 11-03-2021

Hi fellow Steemians

Today I will write about the future of trading #BNB and what to expect in a few days, also some of the benefits of #hodling the #coin.

Here I will give you my referral Id and I will gladly assist if anyone has any doubts on how to use the platform and some trade ideas (WHICH ARE NOT FINANCIAL ADVICE, IT IS ONLY MY OPINION AND YOU ALWAYS SHOULD USE STOP LOSS AND PROPER RISK MANAGEMENT. DON'T TRADE WITH MONEY YOU CAN'T AFFORD TO LOOSE, TRADING IS RISKY AND YOU CAN WHIPE OUT YOUR ACCOUNT AND LOOSE ALL YOUR MONEY IF YOU DON'T MANAGE IT CAREFULLY).

https://accounts.binance.me/en/register?ref=17380007

First we need to see the Daily chart, this will give us a general idea of the HTF (higher time frames) channels. We can see it between the blue lines.

The first thing we notice is that we have broken the top of the lateral channel, and in an obvious way we can confirm an uptrend (orange line).

Now we see something really interesting on the weekly chart.

Here I mark the ultimate support to the downside and the ATH (all time high) with the red lines.
Also the last weekly resistance was broken (purple line $564 USD) the price at the moment that I'm writing this review is $568 USD.

As you can see we are creating Higher Highs and Higher Lows.

Again on the Daily chart we see the next level resistance up to the $600 USD area (grey line and arrows).

So after all this explanation you will be asking, what I am expecting...

First I need to see how todays candle closes, NO TRADE before that.

Then I need to see a support formed above the previous resistance $505 USD area (some of you can say that previous candles that tested the area created that support) for this weekly trade I need to see another retracement on the lower time frames (4hr at least, but 8hr is preferable). NO break below $550 USD is needed for this idea to be valid.

I do believe this can work because the monthly chart has already created a down wick and we can see the bullish momentum.

Do your own research of the coin and also please feel free to comment your ideas. I wouldn't recommend high leverage because of the volatility and risk of liquidation of sudden whale liquidity grabs.

Trade safe, stay safe!