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BNXUSDT

Will BNX Bounce Back or Break Down? Key Levels to Watch NowYello, Paradisers! Is #BNX about to stage a powerful bullish reversal, or could we see another leg down? Let's dive into the current setup of #BinaryX: 💎#BNXUSDT is flashing some promising signs of a potential reversal following a crucial retest of a major support zone. The recent price action saw #BNXUSDT lose steam after encountering a strong rejection at the key resistance of $1.71, where a double-top pattern emerged. Now, the focus shifts to a pivotal support zone between $0.596 and $0.691. 💎If the price holds above $0.596 - $0.691 and rebounds, it could gather the necessary momentum to retest the minor resistance at $0.855. A break above this level would signal a return to a bullish structure, opening the door for higher targets and a potential trend shift. 💎However, if #BNX fails to rebound within this zone, a breakdown could trigger a continuation of the downtrend, with the next stop potentially being the demand area at $0.435. 💎Historically, the $0.435 level has provided solid support, making it a key area to watch for a potential rebound opportunity. But for $BNX to regain its upward momentum, reclaiming the $0.855 resistance is essential. If the price fails to do so—or, even worse, breaks down below the $0.435 demand zone—it would confirm a bearish trend, indicating further downside risks. Strive for consistency, not quick profits. Treat the market as a businessman, not as a gambler. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Simon
BNXUSDT.4HIn my analysis today, I’m examining the 4-hour chart of BNX against USDT on the Binance exchange. The price of BNX is currently around $1.2377, showing slight volatility within a constrained range. Key Resistance and Support Levels: The resistance levels are set at R1 ($1.0502) and R2 at a higher point not visible on this chart, suggesting that it’s significantly above the current trading range. The support levels are crucial to observe here: S1 at $0.5461 and S2 at a lower level not indicated, hinting that the price has a substantial downside risk in the case of a breakdown. Technical Indicators Analysis: • MACD: The MACD line is below the signal line and close to zero, indicating mild bearish momentum. The histogram is also negative, which supports this bearish outlook. • RSI: The Relative Strength Index is around 46.70, indicating neither overbought nor oversold conditions. This positions the market in a neutral state but leaning slightly towards bearishness given its position below the 50 midpoint. Analysis: The BNX market is currently exhibiting signs of consolidation, with a slight bias toward the downside, as indicated by the MACD. The proximity of the price to the first resistance level R1 suggests that BNX is trying to establish a new support level above previous lows, potentially signaling a shift in market sentiment if it can sustain these levels. Conclusion and Trading Strategy: Considering the market indicators and the price action near R1, my strategy would be to watch for a potential breakout above R1. Should BNX sustain a move above this level, it could indicate a bullish reversal, making it an opportune moment to consider a long position with a target near R2. Conversely, if the price fails to hold above R1 and starts moving towards S1, it might be wise to consider a short position, anticipating further declines. It’s crucial to use stop-loss orders effectively, placing them just below the breakout level in the case of a long position, or just above R1 for a short position, to manage potential risks efficiently. This careful monitoring and conditional strategy will help capitalize on the market’s direction once it establishes a clearer trend.
by MarsSignals
BNX price movement projection / (Pay attention to the details)BINANCE:BNXUSDT GATEIO:BNXUSDT Hello Traders Until end of this week, BNX can give us two possible good positions in two sides. Short movement: Price needs to retest lower supports to gain the stability for an upward pullback to near 1.65. So with a SL near the nearest important resistance in 1.4968, you can open a short position with a near target of 1.28-1.18 and a far optimistic target near 1.05 Long movement: After price stabilized and gain volume between 1.1618 - 1.3474, only if nothing outside the box (Like start of a war😟 or anything else)happens to the market, BNX can retest resistance near 1.48-1.5 and after that start a movement to near 1.65 level. The timing for the positions on the chart are not precise. Pay attention to VRVP closely.
by CrazyS
BNX ANALYSIS (1D)According to the structure that we see for the waves on BNX, a triangle and diametric can be seen that we are now inside the diametric. We seem to be at the end of wave E of this diametric. In the red box, the E wave can end and the price enters the F wave, which is a bear wave. Closing a daily candle above the invalidation level will violate this analysis and view. For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
by behdark
BNX short setupThe structure of BNX is bearish. After the heavy drop, if BNX pullback to the supply range on the chart, you can look for sell/short positions in this range. Closing a daily candle above the invalidation level will violate the analysis Note that the financial market is risky, so: Do not enter any position without confirmation and trigger. Do not enter a position without setting a stop. Do not enter a position without capital management. When we reach the first TP, save some profit and try to move the stop continuously in the direction of your profit. If you have any comments please post them, comments will help us improve our performance Thanks
Short
by iMoneyTeam
BNXUSDT Breakout Alert! Is a Bullish Surge on the Horizon?Yello, Paradisers! Did you spot the recent breakout from the falling wedge pattern on BNXUSDT? This breakout signals a potential bullish momentum ahead. Let's dive into the details. 💎The price is likely to retest the support zone around the 1.096 area before continuing its upward movement. This level is crucial as it often acts as a springboard for further gains. 💎If BNX fails to bounce at the support zone and breaks below, it will likely find support at the Bullish Order Block (OB) area. The OB usually contains large buy orders, which can help the price rebound. 💎For the bullish momentum to continue, BNX needs to reclaim the support zone around 1.96. This is essential for hitting our target. A break below the support trendline would be a bad sign for bulls. If the price breaks the Choch area, it would confirm a trend reversal to bearish, invalidating the bullish scenario. If you want to be consistently profitable, you need to be extremely patient and always wait for the best, highest-probability trading opportunities. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise
1
BNX/USDT Keep an eye on the demand or support, Indicating Bounce💎 BNX has recently experienced notable market dynamics, particularly as it faces significant resistance in its current price range. The rejection from this resistance suggests a potential retracement to the demand area around 0.424. 💎 If BNX demonstrates bullish signs at this demand level, such as a rejection of lower prices with bullish candle formations, there's a probability of a bounce back upward toward retesting the strong resistance area. 💎 However, if the demand area fails to provide sufficient support and instead shows signs of consolidation with weak volume, it could indicate weakness in BNX's price action. In such a scenario, there's a risk of BNX breaking down below the demand area and continuing its downward movement towards the support zone around 0.34 - 0.3. 💎 At the support level, it's crucial for BNX to bounce back and reclaim its position above the support area to maintain its upward movement. However, if the demand area fails to hold and support is broken, it would signal bearish sentiment for BNX, potentially leading to further price declines.
by MyCryptoParadise
BNX/USDT Break Alert!! Indicating Bullish Momentum for BNX.💎 BNX has recently shown significant market dynamics, breaking out of a local resistance area, indicating bullish momentum. 💎 However, the price must undergo a retesting phase at the support level, which previously acted as resistance, before continuing its upward movement towards the target area. 💎 Should BNX fail to bounce during the retesting phase at the support level, there's a possibility of a breakdown below this support. Such an outcome would signal a false breakout, leading to a reversal of the bullish movement and a shift toward downward momentum, potentially targeting the demand area as the next stop. 💎 At the demand area, a bounce is necessary to reclaim the price above the support level and sustain the upward momentum towards reaching the target. However, if this scenario fails to materialize, the price may continue its downward movement, targeting the key support area or even lower levels.
by MyCryptoParadise
1