$BNB #BNB
BNB fell the hardest of the majors, and the bounce is giving shorts a second chance. Will you take it or fade it?
BNB dropped 5.16 percent to $715.67 and traded as low as about $694 intraday, the worst of the big coins because it is the token closest to the Binance breach story. That makes sense. When the exchange itself is in the headlines for a suspected $6.3 billion breach, its own token takes the hit first. My read is that this bounce toward $715 to $725 is a selling zone, not a recovery. As long as price stays below $740, sellers stay in control, and a retest of $700, then $685, is the more likely path. If BNB reclaims $740 with strength, this short idea is wrong and I step aside. Until then, the trend and the news both point down.
Direction: SHORT
Entry zone: $715 to $725
Stop loss: $740
Target 1: $700
Target 2: $685
Futures trading is risky, trade small, manage risk, do your own research.
Do you see BNB breaking below $700 today, or holding $715 and recovering toward $740?
#BinanceCoin #Crypto #FuturesTrading #TradingSignals
Follow for more trades.
BNB fell the hardest of the majors, and the bounce is giving shorts a second chance. Will you take it or fade it?
BNB dropped 5.16 percent to $715.67 and traded as low as about $694 intraday, the worst of the big coins because it is the token closest to the Binance breach story. That makes sense. When the exchange itself is in the headlines for a suspected $6.3 billion breach, its own token takes the hit first. My read is that this bounce toward $715 to $725 is a selling zone, not a recovery. As long as price stays below $740, sellers stay in control, and a retest of $700, then $685, is the more likely path. If BNB reclaims $740 with strength, this short idea is wrong and I step aside. Until then, the trend and the news both point down.
Direction: SHORT
Entry zone: $715 to $725
Stop loss: $740
Target 1: $700
Target 2: $685
Futures trading is risky, trade small, manage risk, do your own research.
Do you see BNB breaking below $700 today, or holding $715 and recovering toward $740?
#BinanceCoin #Crypto #FuturesTrading #TradingSignals
Follow for more trades.
