The BR strategy shared earlier has successfully captured its profit potential this round. The window of opportunity won't wait. On the one-hour chart, price for $BNB is holding below both moving averages, and the bearish alignment remains intact. A rebound toward the moving averages would meet resistance, with sellers still leading the momentum.
The rationale for shorting here is trend-following, not trying to pick a top. As long as price doesn't reclaim the moving averages, the downward structure remains in place. One thing to watch is that buyers may push back near the lower end of the range, so keep position sizes in check and don't mistake a rebound for a reversal. Until the structure turns, I favor following the trend and looking for a pullback.
🔴 Trade direction: Short
📍 Entry range: 694.429 – 694.759
🛑 Stop loss: 699.722
🎯 Take profit 1: 690.747
🎯 Take profit 2: 688.183
🎯 Take profit 3: 684.336
Take in the vastness of 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 👇
The rationale for shorting here is trend-following, not trying to pick a top. As long as price doesn't reclaim the moving averages, the downward structure remains in place. One thing to watch is that buyers may push back near the lower end of the range, so keep position sizes in check and don't mistake a rebound for a reversal. Until the structure turns, I favor following the trend and looking for a pullback.
🔴 Trade direction: Short
📍 Entry range: 694.429 – 694.759
🛑 Stop loss: 699.722
🎯 Take profit 1: 690.747
🎯 Take profit 2: 688.183
🎯 Take profit 3: 684.336
Take in the vastness of 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 👇