I have requested more than 24% since its peak where I bought at 1.27 USD, now it is at 0.96 and continues to drop, a disaster for my operation

$BNX



Hey Binance Square fam! 👋 Remember BNX's incredible +900% run? 📈 It was a wild ride! But now, after hitting a peak of $1.3333, BNX is in a downtrend, and we need to figure out what's next! 🤔
Recap of BNX's Phenomenal Run 🤩
BNX skyrocketed +900% in just 19 days, completing a 5-wave Elliott Wave structure. It was a textbook example of a massive bullish move! 🚀
Current Situation: Downtrend and Key Levels 📉
Since the peak, BNX has been in a downtrend and is now approaching the crucial $1.00 psychological support level. Let's break down the key levels to watch:
* $1.00 Psychological Support 🧠: A critical level that could act as a bounce point.
* $0.9387 (Weekly Open & POC) 🎯: This level aligns with the weekly open and the Point of Control (POC) from the previous trading range, making it a crucial support.
* $0.8278 (Liquidity Pool) 💧: Significant liquidity below this level, making it a potential target for stop hunts before a reversal.
* $0.7333 (0.5 Fibonacci Retracement) 📐: Measuring the full +900% move, the 50% retracement aligns near a key support zone.
* $0.7076 (Weekly Bullish Order Block) 🧱: A historical area of demand, adding further confluence.
* $0.7250 (1.272 Fibonacci Extension) 📏: Another confirmation of a potential bounce area.
* $0.6675 (Anchored VWAP) ⚓: Dynamic support from the anchored VWAP, strengthening the buy zone.
* 0.618 Fibonacci Speed Fan 💨: If the price drops towards this level by late February, it could provide additional confluence for a bounce.
Potential Trade Setup: Bullish Scenario 🐂
If the price sweeps the $0.8278 liquidity and enters the $0.7333 - $0.7076 demand zone, a long opportunity with confirmation could offer a great risk-to-reward trade. 📈
Let's Chat! 🗣️
What are your thoughts on BNX's next move? Do you see a potential bounce from these levels? What are your key support and resistance levels? Share your insights and let’s discuss! 👇
Remember, this is just my analysis, and it's not financial advice. Always do your own research (DYOR) before investing. Let's support each other and make smarter trading decisions! 💪✨
#BNX #CryptoTrading #ChartAnalysis #TechnicalAnalysis #TradingTips #CryptoCommunity #BinanceSquare #DYOR #TradingSignals #Bullish #Fibonacci
Key Improvements:
* Engaging Headline: Uses emojis and strong language to grab attention.
* Friendly Tone: Uses conversational language and shares personal observations.
* Clear Information: Breaks down the chart and analysis in a simple way.
* Emphasis on Key Levels: Highlights the crucial support and resistance levels.
* Call to Action: Asks for feedback and encourages interaction.
* Relevant Hashtags: Increases visibility and reach.
* Focus on Potential Trade Setup: Provides a clear bullish scenario.
* Information Gathering: All information is based on the image provided and general knowledge of the subject matter.
Let me know if you'd like any adjustments! 😊