BNB REBOUNDS TO 714; NEAR 722 IS WHERE PRICE HAS BEEN REJECTED SINCE OCT 30
This afternoon, BNB reached 716, its highest level since early afternoon on Oct 30. At 18:29, the price was 714.35.
I think this is just a rebound within the range, not yet a reclaim of the base. The Oct 30 bounce touched 722.08, then was pushed down to close at 708.09, and 15 consecutive 4H candles since early morning on Oct 30 have all closed below 722. Right above that is the 4H EMA50 at 725.66.
The counterevidence: the 680 low in the early hours of Oct 30 came with a 4H candle that saw 202 million USDT in volume. So far, no daily candle has closed below 680. The 4H candle currently forming at 15:00 has also seen 20.9 million USDT in volume, well above the 4.5 to 15.5 million seen in candles from late on Oct 30 until now.
If a 4H candle closes above 726, I’ll abandon this view and lean toward a sweep of the lows. If price is rejected in the 720–726 area, it could easily return to 702–706.
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#BNB #BNBChain
$BNB
This afternoon, BNB reached 716, its highest level since early afternoon on Oct 30. At 18:29, the price was 714.35.
I think this is just a rebound within the range, not yet a reclaim of the base. The Oct 30 bounce touched 722.08, then was pushed down to close at 708.09, and 15 consecutive 4H candles since early morning on Oct 30 have all closed below 722. Right above that is the 4H EMA50 at 725.66.
The counterevidence: the 680 low in the early hours of Oct 30 came with a 4H candle that saw 202 million USDT in volume. So far, no daily candle has closed below 680. The 4H candle currently forming at 15:00 has also seen 20.9 million USDT in volume, well above the 4.5 to 15.5 million seen in candles from late on Oct 30 until now.
If a 4H candle closes above 726, I’ll abandon this view and lean toward a sweep of the lows. If price is rejected in the 720–726 area, it could easily return to 702–706.
If you found this post helpful, give it a like.
#BNB #BNBChain
$BNB
