BNB SWING LONG
2024-12-31
Category: None

Swing Long BNB Opened: 
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The 2021 all-time high is the most critical level for me to watch. Historically, this level has acted as a strong support and resistance zone. Additionally, the price recently tapped the first 4H order block, showing a solid reaction from a 4H perspective.
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My trade strategy is grounded in sentiment (ATR) and general average price. Currently, all indicators have flipped green, even though the price hasn’t yet broken the previous internal swing high (1D perspective).
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Key Levels:

2021 All-Time High, as strong support especially with the current 4H reaction from it
Current ATH, This level will be my 75% TP, since its bove 3R (which is my minimum required R per trade, also This level holds liquidity and offers potential for price discovery above, where i will take the 25% (1.2 dev)
Last Internal daily Swing High, Breaking this level could create upward momentum tp reach the minimum target of the ATH.
The daily ATR sentiment confirms a bullish bias with a green signal,. (Main criteria for system)
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Trade Details:

Stop-Loss: Below the lowest wick from the 4H OB test. This area also aligns with the 4H 24/42 EMA, meeting my SL criteria.
Targets, 75% of the position will be exited at the current ATH. The remaining 25% will aim for the 20% deviation zone above the all time high, ($829.23 on Phemex linear charts).
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This trade offers a potential R of 4.2, with a maximum of 5.1R in total on average.
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Comparative Analysis:

Looking at the weekly BNB chart versus the daily BTC chart, I noticed similarities in structural behavior. While the timeframes differ, the fractal nature of the market validates this comparison.
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Both charts show clear break-of-structure patterns with higher-low formations. On the BTC weekly chart, three BOS moves have occurred since the last low, mirroring 2 break of structures on the BNB chart. BNB is approaching its ATH without significant rejections, which I interpret as a sign of strength.