Analysis I carried Out On BNB/USDT On DTF

It's another great day today to share my views on the crypto chart with friends and like-minded individuals.

On the chart for today will be diving into BnbUsdt pair and today's analysis will be focused on the daily timeframe.

I am of the believe to benefit maximally from trading especially crypto trading one has to have a longer time approach that's why I focused my analysis on daily timeframe so ensure higher return and it's also more sustainable whether on futures or spot.

Today on BnbUsdt on the daily timeframe we can see it forming a W pattern pattern which is a bullish pattern, after failing to break below previous low it's been bullish since then and the W pattern has formed.

Ofcourse this pattern maybe a bullish one but it could also fail if it does not breakout of the resistance level to ensure it will likely continue going up from there.

Currently testing resistance around $220-222 level for now seem to be slightly rejecting after hitting that resistance level.

Personally if the price breaks above that level then it will be a breakout of that w pattern and will be confirmation of bullish continuation, and likely won't just jump in to the trade but likely wait for a retest of that level before entering.

If we breakout of that resistance level of $220-222 level on the price of BnbUsdt on the daily timeframe it will be solid confirmation it will continue moving up with the likely target being the next high or resistance level at $234.7.

I believe if we breakout then we will see short-term upside up until the $234 level before knowing the next action, ofcourse we don't speculate but react to price action as the price may fail to break and reverse showing weakness from the bull upon which plans will change, will only react if price shows us what we looking for if not we change our bias

Ofcourse each one should do their due diligence as this is rather educative post on price action and rather for entertainment not for anyone to hop on to without proper analysis.

Thanks for reading through my post.