Binance Life—by early July, I was already bearish.
Back then, after I shared my viewpoint on the chart, there were still quite a few people in the comments who berated me:
“How could Binance Life possibly go down?”
“It’s going to rise to a market cap of 10 billion!”
“Being bearish means you don’t understand the project.”
Turns out the slap to my face came rather quickly.
The logic has never really been complicated:
After the first surge to the upside, the previous high couldn’t be effectively broken through. Subsequent rebounds also clearly showed lower highs.
With this kind of structure, if you want it to keep moving upward, at minimum it needs to break back above the earlier resistance zone first—and confirm it with volume.
If even the first high can’t be broken, why assume it can just keep going up?
Of course, I’m not saying Binance Life won’t rise in the future. The project may still see a rebound later, and it could even regain strength. But “it might go up” and “the current structure has weakened” are two different things.
Now, looking at it, the price is already near an important support area ahead on the 4-hour timeframe. In the short term, there’s a high likelihood of some form of buying support here, and a technical rebound is possible.
So my view is very clear:
For short positions, once price reaches support, you should temporarily exit—at least take some short-term profits.
My own short position was held all the way down using 2x leverage. When it reaches this level, I’ll also choose to take short-term profits first. I won’t give the market back my profits just to prove that I was right.
Trading isn’t about who’s more stubborn with their mouth—it’s about respecting structure, respecting key levels, and respecting the market’s potential to rebound.
I can be bearish for a period of time, but I will never become a mindless bear.
I’m always long. $币安人生
Before the rise, though, you still have to wait for the market to provide a real signal.
The above is only my personal trading record and technical analysis, and does not constitute investment advice. Leverage trading carries extremely high risk—manage your position size and use stop-losses.
Back then, after I shared my viewpoint on the chart, there were still quite a few people in the comments who berated me:
“How could Binance Life possibly go down?”
“It’s going to rise to a market cap of 10 billion!”
“Being bearish means you don’t understand the project.”
Turns out the slap to my face came rather quickly.
The logic has never really been complicated:
After the first surge to the upside, the previous high couldn’t be effectively broken through. Subsequent rebounds also clearly showed lower highs.
With this kind of structure, if you want it to keep moving upward, at minimum it needs to break back above the earlier resistance zone first—and confirm it with volume.
If even the first high can’t be broken, why assume it can just keep going up?
Of course, I’m not saying Binance Life won’t rise in the future. The project may still see a rebound later, and it could even regain strength. But “it might go up” and “the current structure has weakened” are two different things.
Now, looking at it, the price is already near an important support area ahead on the 4-hour timeframe. In the short term, there’s a high likelihood of some form of buying support here, and a technical rebound is possible.
So my view is very clear:
For short positions, once price reaches support, you should temporarily exit—at least take some short-term profits.
My own short position was held all the way down using 2x leverage. When it reaches this level, I’ll also choose to take short-term profits first. I won’t give the market back my profits just to prove that I was right.
Trading isn’t about who’s more stubborn with their mouth—it’s about respecting structure, respecting key levels, and respecting the market’s potential to rebound.
I can be bearish for a period of time, but I will never become a mindless bear.
I’m always long. $币安人生
Before the rise, though, you still have to wait for the market to provide a real signal.
The above is only my personal trading record and technical analysis, and does not constitute investment advice. Leverage trading carries extremely high risk—manage your position size and use stop-losses.