BNXUSDT → Liquidation on bullish trend before rising...
Updated
BNXUSDT continues to correct and is heading towards global bullish trend support.Against the overall backdrop, the coin looks promising as one of the few continues to hold an uptrend.... Locally, BNX is testing the key liquidity area, a rebound to 1.300 may follow, but depending on the situation, there are various patterns indicating selling pressure on the market, such as: local lows, sma cross, closing bars at daily lows.... But, confidence is given by the overall trend. It is worth paying attention to the support 1.061 - 1.22, in this zone the struggle between the market participants is formed. The bulls may finally win if they are able to consolidate above 1.2000, but before that a long-squeeze or a scramble for support is possible.
Resistance levels: 1.2000, 1.31, 1.425
Support levels: 1.14, 1.06, 0.95
Technically, the trend boundary and liquidity area has not been tested yet. There are no strong bullish signals and MM may form a trap (false growth, liquidation (sell-off) and false breakdown followed by growth). Emphasis on these key zones...
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Trade active
Bears are actively holding 1.200Trade active
Trade active
A false breakdown and upward bounce is formed
Trade closed: target reached
Target 1 reached! +30%
Trade active
Continuing to hold Trade active
Trade closed: target reached
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