$BNB
$BNB Readies for Sell-the-Rally: Important Levels to Monitor
Binance Coin ($BNB) displays evident indicators of a possible short chance as it moves through an essential resistance area. Traders aiming to take advantage of a sell-the-rally setup now possess clear entry, stop-loss, and target levels, simplifying risk management.
Trade Configuration (SHORT)
Entry: 655.167 – 661.133
Limit of Loss: 676.050
Aims:
TP1: 640.250
TP2: 634.284
TP3: 622.351
What is the reason for this configuration?
On the 4-hour chart, $BNB is set for a short as it confronts the resistance zone. The daily pattern stays within a range, highlighting the significance of position when making trades. At present, the price is stabilizing within the (655.167–661.133) range, providing a clear and low-risk entry opportunity.
If BNB cannot maintain this zone and indicates a rejection, the route to the initial target at 640.250 becomes probable. The RSI on the lower timeframe shows that the market isn't oversold yet, allowing space for a potential decline.
Invalidation Point:
A decisive break above 787.116 would completely invalidate the short thesis, altering the focus toward possible upward movement and a squeeze scenario.
Market Discussion:
The main consideration for traders at this moment: will $BNB face rejection here and proceed to TP1, or surpass 787.116 and initiate a bullish squeeze? Observing price movements at these levels is essential for effective risk management and execution.
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