Bullish Bounceback for BNB
2024-11-13

 

On daily charts, BNB hit a supply Zone and had been reacting to come towards the New Bullish Swing range.
As of now reacting on 50% retracement zone && the POC of Fixed Range VP.

Overall the bias is bullish as price has been crossing above the Weak Swing highs , while creating Stronger Lows, so we can look for buys in 50% equilibrium with Point of interests.

Going into 4hour, shows that last week's demand zones have been liquidated and price came down to test FVG.

1st scenario is we mitigate this demand zone.
2nd scenario is we go further down below in 70% discounted zone to mitigate the original Demand zone that created this Swing. It also has a Daily FVG sitting above it. Chances of this are less as this would create a deep pullback, not in line with the strong uptrend of BNB.

  

for Long entries wait for Demand Zone to be in effect in 4hour timeframe.

Disclaimer - Always apply your own confluences and use risk management for safe trading.