$BNB has spent 10 days in a 680 to 723 box. Saturday was its tightest day of the stretch.
Daily candles (UTC):
- Oct 29 low: 680
- Nov 4: low 680.74, high 723.42
- Nov 5 low: 683.94
- Nov 7 range: 693.02 to 697.51, only 0.65%
How I'm reading it:
- 680 to 684: three tests, all held. That's the floor
- 722 to 723: the Oct 30 high (722.08) and the Nov 4 high (723.42). That's the ceiling
- Price was 695.4 this morning, 2.3% above 680 and closer to the floor
- The middle gives me nothing. I want a test of an edge, or a daily close outside the box
Funding on the BNB perp was 0.0084% per 8h, so neither side is crowded yet.
NFA. Would you buy a test of 684, or wait for a close above 723?
$BNB
Daily candles (UTC):
- Oct 29 low: 680
- Nov 4: low 680.74, high 723.42
- Nov 5 low: 683.94
- Nov 7 range: 693.02 to 697.51, only 0.65%
How I'm reading it:
- 680 to 684: three tests, all held. That's the floor
- 722 to 723: the Oct 30 high (722.08) and the Nov 4 high (723.42). That's the ceiling
- Price was 695.4 this morning, 2.3% above 680 and closer to the floor
- The middle gives me nothing. I want a test of an edge, or a daily close outside the box
Funding on the BNB perp was 0.0084% per 8h, so neither side is crowded yet.
NFA. Would you buy a test of 684, or wait for a close above 723?
$BNB
