BNB Testing Critical Support – Bull Trap or Dip Buy Opportunity? 📉🐢
The 4H chart for BNB/USDT shows some intense cooling off after the recent local high of $909. We are currently hovering around $836.40, and the technicals are flashing a "caution" sign for the bulls.
Key Takeaways:
The Trend: BNB has slipped below the MA(7), MA(25), and MA(99). Staying under these levels keeps the pressure on the downside.
Crucial Floor: All eyes are on the $831.83 support level. If we hold here, we might see a consolidation phase or a "double bottom" attempt.
Volume & Order Flow: Sellers are currently leading the dance with 55.6% of the order book. We need a surge in buying volume to flip the momentum back to $860+.
Strategy: Watch for a strong 4H candle close above $850 to confirm a potential reversal. Until then, the market remains in a "wait and see" mode.
What’s your move? Are you grabbing the dip or waiting for $800? Let’s discuss below! 👇
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