$BNB is down about 1.9% on the day and sitting near 702, still stuck under the 715 high it tagged yesterday. It hasn't really recovered since that flush to 678 a few days ago, it's just been chopping 695-710 since.
On the NanoTrading Fire chart (4h) the whole value area is overhead: POC around 744, VAL near 718. The liquidation heatmap has dense bands right under price at 696-700 and a thicker one at 688-695. Above, the first bright cluster is 722-726, with short-side stacks marked around 720-724.
Binance futures data is the interesting part. About 73% of accounts are long (L/S ratio 2.67), but top traders are close to flat at 1.10 by position. Funding is sitting at 0 and OI is about $408M, basically unchanged over the last day. Retail is leaning long while the bigger books aren't.
My read: with that many retail longs, a sweep into 688-695 before any real move wouldn't shock me. Reclaiming 718 and pushing into the 722-726 shorts is what would get $BNB moving toward the POC 👀
Do you think 690 holds or are we revisiting the 678 wick?
NFA, just my chart notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#BNB #NanoTrading #CryptoTrading
On the NanoTrading Fire chart (4h) the whole value area is overhead: POC around 744, VAL near 718. The liquidation heatmap has dense bands right under price at 696-700 and a thicker one at 688-695. Above, the first bright cluster is 722-726, with short-side stacks marked around 720-724.
Binance futures data is the interesting part. About 73% of accounts are long (L/S ratio 2.67), but top traders are close to flat at 1.10 by position. Funding is sitting at 0 and OI is about $408M, basically unchanged over the last day. Retail is leaning long while the bigger books aren't.
My read: with that many retail longs, a sweep into 688-695 before any real move wouldn't shock me. Reclaiming 718 and pushing into the 722-726 shorts is what would get $BNB moving toward the POC 👀
Do you think 690 holds or are we revisiting the 678 wick?
NFA, just my chart notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#BNB #NanoTrading #CryptoTrading
