๐ด $BNB / USDT โ SHORT SETUP
Can BNB continue its downside move? Bears currently have the technical advantage.
๐ Market Structure
BNB is trading below the bearish EMA50 and EMA200 on both the 4H and 1H timeframes. This suggests the broader trend remains bearish, with sellers defending the market.
SHORT ENTRY: 639.900 โ 641.160
๐ฏ TAKE PROFIT
- TP1: 629.601 (-1.7%)
- TP2: 622.316 (-2.8%)
- TP3: 611.387 (-4.5%)
๐ STOP LOSS: 655.101 (+2.3%)
My Trading Plan:
- Close 50% at TP1.
- Close 25% at TP2.
- Close the remaining 25% at TP3.
- Move SL to breakeven after TP1.
โ ๏ธ Important Risk: Buyers are still showing short-term strength, with 15M ADX at 23.5. A temporary bounce or short squeeze is possible.
My View: Bearish bias remains valid while BNB stays below the key EMA resistance zone. However, I would keep position size light and wait for seller confirmation.
Do you think BNB will break below $630 next? ๐
$ETH
$AKE
DYOR | NFA | Trade responsibly.
Can BNB continue its downside move? Bears currently have the technical advantage.
๐ Market Structure
BNB is trading below the bearish EMA50 and EMA200 on both the 4H and 1H timeframes. This suggests the broader trend remains bearish, with sellers defending the market.
SHORT ENTRY: 639.900 โ 641.160
๐ฏ TAKE PROFIT
- TP1: 629.601 (-1.7%)
- TP2: 622.316 (-2.8%)
- TP3: 611.387 (-4.5%)
๐ STOP LOSS: 655.101 (+2.3%)
My Trading Plan:
- Close 50% at TP1.
- Close 25% at TP2.
- Close the remaining 25% at TP3.
- Move SL to breakeven after TP1.
โ ๏ธ Important Risk: Buyers are still showing short-term strength, with 15M ADX at 23.5. A temporary bounce or short squeeze is possible.
My View: Bearish bias remains valid while BNB stays below the key EMA resistance zone. However, I would keep position size light and wait for seller confirmation.
Do you think BNB will break below $630 next? ๐
$ETH
$AKE
DYOR | NFA | Trade responsibly.
