🔴 $BNB /USDT · Direction: SHORT
Set up a short trade on BNB with the following levels.
Entry: 631.836 – 633.624
First target: 620.809
Second target: 612.861
Third target: 600.940
Stop loss: 648.625
Note: The confidence level is only moderate, so using a small position size is preferable.
Reason: The 4-hour trend is bearish (price is below EMA50 and EMA200), and the 1-hour trend is also bearish (price is below EMA50 and EMA200).
Risk: Price is in oversold territory, where rebounds are common (the 4-hour RSI is at 19.5, in oversold territory).
Plan: Close 50% at the first target, 25% at the second target, and 25% at the third target. Move the stop loss to the entry point after reaching the first target.
Will you enter a BNB short trade or wait?
Set up a short trade on BNB with the following levels.
Entry: 631.836 – 633.624
First target: 620.809
Second target: 612.861
Third target: 600.940
Stop loss: 648.625
Note: The confidence level is only moderate, so using a small position size is preferable.
Reason: The 4-hour trend is bearish (price is below EMA50 and EMA200), and the 1-hour trend is also bearish (price is below EMA50 and EMA200).
Risk: Price is in oversold territory, where rebounds are common (the 4-hour RSI is at 19.5, in oversold territory).
Plan: Close 50% at the first target, 25% at the second target, and 25% at the third target. Move the stop loss to the entry point after reaching the first target.
Will you enter a BNB short trade or wait?
