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Hey BNB & DOT... Going Up eh?

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Joanne Wong
@joannewong
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The overall market today is green, BTC up to $57,800 then pullback to the 23.60% area to take more orders and now it is trading at $57,000 area as of this writing of the post.

In today post, I'm going to share chart on BNB & DOT.

BNBUSDT daily chart

  • A big bullish pennant that price action tested 4 times at the upper bullish pennant line and hopefully it can breakout from the pattern and goes higher.
  • Also tested 4 times with a wick down at the bottom of the bullish pennant line which I view it as a strong support as long as it doesn't break down.
  • Currently the PA is trading above the yellow line and the candle close above the yellow line means it is trending up.
  • Green money flow too.

BNBUSDT 4 hour chart

  • Breakdown of the rectangle pattern then followed by
  • Breakout of descending channel
  • Bullish engulfing candle
  • Break the yellow line to be trending up
  • Currently PA is trading at the upper of the bullish pennant
  • The red money flow getting thinner

DOTUSDT Daily Chart

  • One big inverse head & shoulder and the price action trading near the neckline and hasn't break the neckline yet
  • If the pattern play out, it is bullish !!
  • Green line is the support and pink is the resistance

DOTUSDT 4 hour chart

  • Breakdown from the ascending channel
  • Breakout from the descending channel followed by
  • The breakout of trend line
  • Forming the ascending channel, as you can see the price action have been respecting the upper and lower of the channel act as a support and resistance inside the channel
  • Bullish and hidden bullish divergence spotted on the 4 hour chart

Hope you have awesome WEDNESDAY!

On a fine afternoon talking to ladyyunajay about trading view functions.. A simple idea pop up!!

Me: Why not we start paper trading at trading view (100K capital, fake money) record it down in a google sheet and share to the world? We can do this as trading exercise and have fun at the same time!

https://docs.google.com/spreadsheets/d/1aogT9AGMsisUbN1ZrfAV0DWeKGy8WWy9uSZ5y3_DT9o/edit#gid=0

Trading is risky and using Leverage to trade is an even higher risk than Spot trade therefore I will suggest you to try out paper trading first before going into Live Trade.

This is just MY PERSONAL OPINION/BIAS/VIEW on the BNBUSDT & DOTUSDT. 1000% NOT FINANCIAL ADVICE & Please Do Your Own Research/Due Diligence. During this pandemic I had started picking up Technical Analysis, therefore am still learning my way around it. :)

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