BNB/USD: Ichimoku indicators analysis

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BNB/USD: Ichimoku indicators analysis
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point635.0043
Take Profit744.1115
Stop Loss604.7860
Key Levels615.5743, 658.1904, 599.8369, 671.9610
BNB/USD: Ichimoku indicators analysis

Let's look at the four-hour chart. Tenkan-sen and Kijun-sen lines have merged, the lines are horizontal . Confirmative line Chikou Span has crossed the price chart from below, current cloud is descending. The instrument has broken through the cloud and is still rising. The closest support level is Tenkan-sen line (615.5743). One of the previous maximums of Chikou Span line is expected to be a resistance level (658.1904).


BNB/USD: Ichimoku indicators analysis

On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument has been corrected to the Tenkan-sen line. The closest support level is the lower border of the cloud (599.8369). One of the previous maximums of Chikou Span line is expected to be a resistance level (671.9610).


On the four-hour chart we can see the beginning of the trend reversal. On the daily chart the Bullish trend is still strong. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (744.1115) line and Stop Loss at the level of Kijun-sen line (604.7860).


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