BNB is testing a short-term resistance level around $688, and strong bearish signals on the 4h timeframe suggest the possibility of further downside.
$BNB – SHORT
Trading plan:
Entry: $687.24 – $688.34
SL: $693.29
TP1: $677.89
TP2: $673.13
TP3: $667.63
Why set it up this way?
• The 4h trend is SHORT; EMA20=$689.33, EMA50=$694.86.
• RSI 15m=78.9; RSI 4h=55.0.
• ATR 1h=$3.6650; the entry is near the current price, TP1 has an R:R of 1.8.
Discussion:
Will the short-term trend stay strong enough to reach TP1, or is there a risk of a quick rebound that causes the order to be stopped out by the SL?
Click here to trade 👇
$BNB – SHORT
Trading plan:
Entry: $687.24 – $688.34
SL: $693.29
TP1: $677.89
TP2: $673.13
TP3: $667.63
Why set it up this way?
• The 4h trend is SHORT; EMA20=$689.33, EMA50=$694.86.
• RSI 15m=78.9; RSI 4h=55.0.
• ATR 1h=$3.6650; the entry is near the current price, TP1 has an R:R of 1.8.
Discussion:
Will the short-term trend stay strong enough to reach TP1, or is there a risk of a quick rebound that causes the order to be stopped out by the SL?
Click here to trade 👇
