This one gives me second thoughts.
$BNB
has climbed 0.50% to $586.98. The move is small, but the data is interesting.
The funding rate is +0.4731%, which is positive – longs are paying to hold. The volatility score is 6/100, which is extremely low. Low volatility before a minor pump often leads to a sharp move in the opposite direction. Whale activity shows 38% buy pressure and 55% sell pressure – sellers are dominant. The price is sitting below $590 resistance. If it fails to break above, I see a drop to $580 first. But if sellers take control, $570 is not out of the question.
Trading Plan:
· Entry: $585 - $587
· SL: $592
· TP1: $580
· TP2: $575
· TP3: $570
What are you seeing on this one?
$BNB
has climbed 0.50% to $586.98. The move is small, but the data is interesting.
The funding rate is +0.4731%, which is positive – longs are paying to hold. The volatility score is 6/100, which is extremely low. Low volatility before a minor pump often leads to a sharp move in the opposite direction. Whale activity shows 38% buy pressure and 55% sell pressure – sellers are dominant. The price is sitting below $590 resistance. If it fails to break above, I see a drop to $580 first. But if sellers take control, $570 is not out of the question.
Trading Plan:
· Entry: $585 - $587
· SL: $592
· TP1: $580
· TP2: $575
· TP3: $570
What are you seeing on this one?