In this quick scalp trade setup for Binance Coin (BNB/USDT) on the 5-minute chart, we analyze a potential long position targeting a key resistance breakout. The price is currently rebounding from a support level near $625.55, showing bullish momentum. A successful breakout above the $631.64 moving average (MA) and resistance at $637.69 could trigger a strong upward move.
Key technical indicators suggest an entry at the retest of $628.10, with a stop-loss positioned below $625.55 to minimize downside risk. The target of $637.69 aligns with previous price action and liquidity zones, offering a favorable risk-to-reward ratio.
This setup is ideal for traders looking for a high-probability breakout scalp trade with strict risk management. Stay updated on BNB price action, market structure, and technical analysis for optimal entries and exits.
#BNB #ScalpingStrategy #CryptoTrading #TechnicalAnalysis #BreakoutTrade
Key technical indicators suggest an entry at the retest of $628.10, with a stop-loss positioned below $625.55 to minimize downside risk. The target of $637.69 aligns with previous price action and liquidity zones, offering a favorable risk-to-reward ratio.
This setup is ideal for traders looking for a high-probability breakout scalp trade with strict risk management. Stay updated on BNB price action, market structure, and technical analysis for optimal entries and exits.
#BNB #ScalpingStrategy #CryptoTrading #TechnicalAnalysis #BreakoutTrade
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.