Should We Sell Or Hold?

• Currently down 2,7% on my Binance position.
• BNB has been playing a cat & rat game with Bitcoin and got smashed when Bitcoin rallied up to $7,400.
• Currently resting at both support line and 100 day moving average which has been acting as strong support for BNB.
• BNB smashed through the 100 day MA but managed to climb back up, leaving a wick (bullish)
• So where do we go from here? Should we sell and get out? Check out next pic.

What's Next?

• If we close the daily candle above the 100 moving average then I would be pretty bullish. It has acted as support before and resulted in a huge rally when it held in the past.

• There are currently 4 support lines that are saving BNB right now and it's:

1. 100 EMA
2. Bottom of channel/pennant trend line (purple)
3. Bottom line of downward pointing wedge
4. Previous resistance where the 1st wave ended. (yellow area)

• If these support levels don't hold, I will be prepared to close my position and take a loss.
• Closing my position now wouldn't make sense cause we want to buy at support and sell at resistance
• Not gonna tell you what to do but I will hold

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Disclaimer:
I'm not a financial advisor and these are only my opinions. I don't take any responsibility for any investments that you make based on my analysis.