BNB breaks below the 747 key level—will it still get hammered lower in the short term?
$BNB This move is really hard to hold up. In the last 4 hours, it dropped straight from 762 to 731—one big bearish candle, down about 4%, and there hasn’t been even a decent rebound.
Looking at the recent 1-hour chart with 15-minute candles, the highs have been stepping lower all the way: 757, 751, 738, 738. Each rebound is weaker than the last, and the lows keep getting refreshed. The area around 730 has been tested repeatedly. Even more alarming is that, in the most recent 2 hours of the last 4-hour window, the trading volume has surged by 168% compared with the first 2 hours. This isn’t a slow grind lower on shrinking volume—it’s a real, high-volume selloff, which suggests the selling pressure is genuinely heavy.
The broader environment isn’t helping either. Bitcoin ETF flows are going through the largest outflow in months, and risk appetite has clearly contracted. On top of that, possible renewed military tensions between the US and Iran could flare up again; Bitcoin has already broken below 81,000, oil prices are rising, and the whole market is in risk-off mode. In situations like this, BNB is unlikely to stand aside.
My take is very straightforward: 747 has turned from support into resistance. As long as the rebound can’t reclaim that level, I’m still bearish in the short term. First target is around 730; if it breaks, further downside could open up.
Of course, if a new 4-hour candle can hold back above 763, then I’ll admit I’m wrong and withdraw the bearish view. But until then, don’t rush to bottom-fish—the knife is still falling.
$BNB This move is really hard to hold up. In the last 4 hours, it dropped straight from 762 to 731—one big bearish candle, down about 4%, and there hasn’t been even a decent rebound.
Looking at the recent 1-hour chart with 15-minute candles, the highs have been stepping lower all the way: 757, 751, 738, 738. Each rebound is weaker than the last, and the lows keep getting refreshed. The area around 730 has been tested repeatedly. Even more alarming is that, in the most recent 2 hours of the last 4-hour window, the trading volume has surged by 168% compared with the first 2 hours. This isn’t a slow grind lower on shrinking volume—it’s a real, high-volume selloff, which suggests the selling pressure is genuinely heavy.
The broader environment isn’t helping either. Bitcoin ETF flows are going through the largest outflow in months, and risk appetite has clearly contracted. On top of that, possible renewed military tensions between the US and Iran could flare up again; Bitcoin has already broken below 81,000, oil prices are rising, and the whole market is in risk-off mode. In situations like this, BNB is unlikely to stand aside.
My take is very straightforward: 747 has turned from support into resistance. As long as the rebound can’t reclaim that level, I’m still bearish in the short term. First target is around 730; if it breaks, further downside could open up.
Of course, if a new 4-hour candle can hold back above 763, then I’ll admit I’m wrong and withdraw the bearish view. But until then, don’t rush to bottom-fish—the knife is still falling.