【Aodiao 77·Technical Analysis】BNB 1-hour chart
Current price $690.55, 24h -2.44%.
BNB is consolidating sideways around 690.55. The fluctuations are getting smaller, and the Bollinger Bands are continuously narrowing.
Narrowing Bollinger Bands usually means a breakout is imminent. The longer the sideways range lasts, the bigger the potential move after the breakout. But the direction is uncertain—it could be upward or downward.
Trading volume is shrinking, indicating strong market hesitation. Everyone is waiting for direction to be chosen. In this situation, the worst move is to place a bet in advance. Wait until the range breaks before following.
Key levels:
- Support: 669; if it breaks down, look at 649
- Resistance: 711; if it breaks up, look at 731
Trading suggestion: Do not trade within the sideways range. Wait until the price breaks out of the range, then follow the trend. Breakout above resistance = go long; break below support = go short. Set the stop-loss outside the range.
——Aodiao 77 | Live trading in the crypto markets, gains and losses, real records
$BNB #币安币 #技术分析 #熬雕77
Current price $690.55, 24h -2.44%.
BNB is consolidating sideways around 690.55. The fluctuations are getting smaller, and the Bollinger Bands are continuously narrowing.
Narrowing Bollinger Bands usually means a breakout is imminent. The longer the sideways range lasts, the bigger the potential move after the breakout. But the direction is uncertain—it could be upward or downward.
Trading volume is shrinking, indicating strong market hesitation. Everyone is waiting for direction to be chosen. In this situation, the worst move is to place a bet in advance. Wait until the range breaks before following.
Key levels:
- Support: 669; if it breaks down, look at 649
- Resistance: 711; if it breaks up, look at 731
Trading suggestion: Do not trade within the sideways range. Wait until the price breaks out of the range, then follow the trend. Breakout above resistance = go long; break below support = go short. Set the stop-loss outside the range.
——Aodiao 77 | Live trading in the crypto markets, gains and losses, real records
$BNB #币安币 #技术分析 #熬雕77
