🚀 BNB Bullish Setup 🚀
Trading Plan:
Bias: Bullish
Entry: 848 - 850
Stop Loss: 847.5
First Target Price – Third Target Price: 855 / 860 / 865
Technical Analysis:
On the 15-minute chart, the price is testing the key support area of $848. Despite the recent price decline, both the RSI and MACD indicators show significant bullish divergence: the price has made lower or equal lows, while the indicators have formed higher lows. This suggests that downward momentum is weakening, potentially signaling a trend reversal. A potential double bottom pattern is also forming at this support level. A confirmation signal would be a price breakout above the short-term resistance level of $852 and the Exponential Moving Average (EMA).
Invalidation Condition:
Only a valid price drop below $847.5 would invalidate this bullish setup.
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