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BNBUSDT trade ideas

#BNBUSDT Falls By 20% To Hug The 200 MAThe BINANCE:BNBUSDT pair experienced a fall in price from $580 to $455 between July 3 and July 5, a 20% decrease in price following the Mt. Gox releasing $9 billion worth of BTC resulting in over $100M of leveraged positions getting liquidated. The bears pushed the price into the oversold territory which is the reason for the price rebound to $530. If the 200 MA that is currently holding the price up cracked, the bears can push the price back to $455 and from there to $396 and $340. But this depends heavily on the overall crypto market's performance, if the market conditions improved and the price stayed above the 200 MA the next resistance would be $590, $622, $637, $670 and $720.
by Zanzibar_Trading
BNBUSDT.1DAnalyzing the BNB/USDT daily chart, I observe key aspects that delineate the current technical posture and potential future movements of the asset. Technical Analysis Observations: Support and Resistance Levels (S1, S2, R1, R2): Support Level 1 (S1) at $359.5 acts as the immediate floor for the price. This level previously functioned as a strong support, suggesting a potential area where buyers might re-enter. Support Level 2 (S2) at $202.0 represents a significant historical support level and a crucial psychological barrier. Resistance Level 1 (R1) at $521.2 and Resistance Level 2 (R2) at $644.8 serve as key thresholds that the price must surpass to confirm any bullish momentum. Trend Indicators: The green trend line, ascending from the left lower corner, has been acting as a dynamic support. A break below this line could signal a shift in the underlying bullish sentiment to bearish. RSI (Relative Strength Index): The RSI is currently at 24.80, well into the oversold territory. This suggests that the asset may be underbought, potentially setting the stage for a bullish reversal if other conditions align. MACD (Moving Average Convergence Divergence): The MACD is below the signal line, and both are trending downwards, indicating strong bearish momentum. The spread between the MACD and the signal line, along with a deepening histogram, further confirms the bearish sentiment. Conclusion: From my analysis, BNB/USDT is currently in a precarious position, hovering near a critical support level at $359.5, underpinned by an oversold RSI. This suggests a possible area for a reversal; however, the prevailing bearish momentum highlighted by the MACD advises caution. Potential strategies could include preparing for a buying opportunity if a bullish reversal signal is observed at the support level, especially if there is a bullish crossover in the MACD or an upturn in the RSI above the oversold region. Conversely, a break below $359.5 could open the door to further declines towards $202.0, in which case, defensive strategies such as stop-loss orders would be crucial. Investors should remain vigilant, watching for increased volume or news that could influence price action. As always, it's critical to complement technical analysis with sound risk management practices to mitigate potential losses in such a volatile environment.
by MarsSignals
BNBUSDT. Trading opportunityOn the daily timeframe, the sideways movement that began in March continues. Yesterday, the seller pushed the price back below the upper boundary of the range at 645.2. The closing candle had a good spread and volume, confirming the seller's strength. The current seller's vector is 9-10, with a potential target at 508. The nearest obstacle for the seller is at 586.5. The price is close to 50% of the last buyer's impulse (608.8), from which a buyer's movement might start. On the hourly timeframe, there is a short-term downtrend. The last seller's impulse started at 653.7, and a seller's zone has formed at the base of this impulse (indicated by the red rectangle on the chart). It is preferable to look for selling opportunities in this seller's zone (645-654). However, the price may not return to this zone. Currently, selling opportunities can be sought if the seller defends the level of 645.2, as an idea to realize the seller's vector 9-10 within the daily timeframe range. There is no context for buying at the moment.
by AlexeyWolf
BNB about to loss support ? BNB / USDT After a major coin like BNB makes a new ATH then doing a clear and simple retest like this in which giving the majority the chance to buy it = 90% of cases is dump In 90% of cases of retested triangles after new ATH = more dump to take more liquidity below the triangle (Ex : this happens in BTC as well recently) Iam long term supporter of BNB but short term looks more for correction The confirmation :losing the dynamic support in my chart This isn’t a Financial advice
Short
by Babenski
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