Don’t let the validation throw you off—the timeframes are what matter. $BNB is below the moving averages on both the 4-hour and 1-hour charts. The bearish alignment remains intact, so in this structure, a rebound looks more like a correction than a reversal. The elevated 15-minute ADX suggests sellers are still dictating the pace. Price is far from the 1-hour moving average, so chasing shorts could backfire. It’s safer to wait for a move back into the zone above before considering an entry.
As long as the key resistance above holds, the bias remains bearish. The first target is near the previous low. Once price gets there, take half off and move your stop to breakeven; let the rest play out according to the structure. There is certainly a risk of a rebound, but until price reclaims the key level, my view remains unchanged.
🔴 Trade direction: Short
📍 Entry range: 713.456 – 714.169
🛑 Stop loss: 723.470
🎯 Take profit 1: 706.569
🎯 Take profit 2: 701.740
🎯 Take profit 3: 694.495
Take in the vastness of the mountains and seas; observe the market’s finer details.
Trade alongside Uncle Xiong and witness the gains and losses of the world.
#BNB
Click below to trade 👇
As long as the key resistance above holds, the bias remains bearish. The first target is near the previous low. Once price gets there, take half off and move your stop to breakeven; let the rest play out according to the structure. There is certainly a risk of a rebound, but until price reclaims the key level, my view remains unchanged.
🔴 Trade direction: Short
📍 Entry range: 713.456 – 714.169
🛑 Stop loss: 723.470
🎯 Take profit 1: 706.569
🎯 Take profit 2: 701.740
🎯 Take profit 3: 694.495
Take in the vastness of the mountains and seas; observe the market’s finer details.
Trade alongside Uncle Xiong and witness the gains and losses of the world.
#BNB
Click below to trade 👇