$BNB is grinding back to 711 after that ugly flush on Oct 29, when it dropped from ~760 to a 677 wick in one day. Three days of base building around 700 and now it's poking the first resistance.
On the NanoTrading Fire chart (4h) the thickest red heat sits right under price at 700-705, with another pool at 680-685 near the crash wick. Above, the profile shows a big short cluster tagged around 720-722 (~$101M), then more bands at 725-728 and 738-742. The POC is way up near 744, so most of the recent volume is still above us.
Binance futures is the interesting bit. About 73% of accounts are long (L/S 2.72) while top traders are close to flat at ~1.09. Funding is basically zero, just ticked up to +0.0036%, and OI is flat around 580K $BNB . Crowd is long, smart money isn't really chasing.
My read: a clean 4h close above 722 could squeeze those shorts toward 740. Rejection there with retail this long and I'd expect a retest of 700, maybe a sweep into 685.
Do you think 722 breaks, or does the crowd get flushed one more time first?
NFA, just my chart notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#BNB #Binance #NanoTrading
On the NanoTrading Fire chart (4h) the thickest red heat sits right under price at 700-705, with another pool at 680-685 near the crash wick. Above, the profile shows a big short cluster tagged around 720-722 (~$101M), then more bands at 725-728 and 738-742. The POC is way up near 744, so most of the recent volume is still above us.
Binance futures is the interesting bit. About 73% of accounts are long (L/S 2.72) while top traders are close to flat at ~1.09. Funding is basically zero, just ticked up to +0.0036%, and OI is flat around 580K $BNB . Crowd is long, smart money isn't really chasing.
My read: a clean 4h close above 722 could squeeze those shorts toward 740. Rejection there with retail this long and I'd expect a retest of 700, maybe a sweep into 685.
Do you think 722 breaks, or does the crowd get flushed one more time first?
NFA, just my chart notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#BNB #Binance #NanoTrading
