BNB IS COILING BETWEEN 720 AND 810 AND THE BREAK WILL BE LOUD
BNB trades at 755 after a 4 percent weekly drop while the daily chart shows a small green candle with a short body which means indecision as buyers and sellers are fighting to a draw right now and price sits under the 7 day average near 759 and under the 20 day average near 768 while support at 720 held on the dip to 730 and resistance at 810 capped the last rally attempt with six of the last fourteen days closing green which shows neither side has real control
Recommendation is HOLD because there is no edge in the middle of a range with the entry zone sitting between 735 and 755 for range traders only while the stop loss goes under 715 on a daily close and a daily close above 810 flips this to BUY with room toward higher ground
My take is that BNB is storing energy right now as ranges like this usually end with a sharp move and the patient trader waits for the break instead of guessing it so watch 810 closely because that level decides the next trend
Are you trading the BNB range or sitting out for the breakout
$BNB
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #BNB
BNB trades at 755 after a 4 percent weekly drop while the daily chart shows a small green candle with a short body which means indecision as buyers and sellers are fighting to a draw right now and price sits under the 7 day average near 759 and under the 20 day average near 768 while support at 720 held on the dip to 730 and resistance at 810 capped the last rally attempt with six of the last fourteen days closing green which shows neither side has real control
Recommendation is HOLD because there is no edge in the middle of a range with the entry zone sitting between 735 and 755 for range traders only while the stop loss goes under 715 on a daily close and a daily close above 810 flips this to BUY with room toward higher ground
My take is that BNB is storing energy right now as ranges like this usually end with a sharp move and the patient trader waits for the break instead of guessing it so watch 810 closely because that level decides the next trend
Are you trading the BNB range or sitting out for the breakout
$BNB
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #BNB