$BNB broke my $570.31 floor to $566 this morning — then bounced $30 to $601.36. The floor broke, the reclaim is still unproven.
The bounce came while $18.6M of longs were liquidated (98% of all BNB liquidations — CoinPerps, 08:39 UTC) and open interest fell 8.2% to $945.9M in two days. And 69.5% of Binance accounts are still long. A bounce on shrinking leverage with a crowded long side is fragile, not a bottom.
Leaning cautious. Watch $566–$591. If $600.60 breaks and holds: $630.31, then $650.01. Stop: daily close under $566. A daily close above $600.60 kills my caution.
$600.60 — break or fade, what's your plan? $BNB $BTC
Not financial advice. DYOR.
#BNB #CryptoTrading #BinanceSquare
The bounce came while $18.6M of longs were liquidated (98% of all BNB liquidations — CoinPerps, 08:39 UTC) and open interest fell 8.2% to $945.9M in two days. And 69.5% of Binance accounts are still long. A bounce on shrinking leverage with a crowded long side is fragile, not a bottom.
Leaning cautious. Watch $566–$591. If $600.60 breaks and holds: $630.31, then $650.01. Stop: daily close under $566. A daily close above $600.60 kills my caution.
$600.60 — break or fade, what's your plan? $BNB $BTC
Not financial advice. DYOR.
#BNB #CryptoTrading #BinanceSquare
