BNB heavily subjected to news in the short term. The market is testing itself.
For any trade position, keep in mid 2 safety resistance:
- $317: week
- $290: strong
Testing the 337-345 has failed in the last couple of weeks. Yet we can see in the slow fall a potential bearish trend in line with the former push:
- If this trend is broken (green line) BNB would likely test 317 and 290 areas.
- If it follow the green line as bottom and breaks the top downtrend (top red line) BNB will go again testing the 333, 337, 345 areas.
The uptrend to 350 was not sustainable anyway, the slow downtrend could well be healthy. Watch the news on BTC and BNB, lots happening recently, market is tense.
My assumption: 317 likely to fails, if so, short above 310 and buy/buy back at 290.
For any trade position, keep in mid 2 safety resistance:
- $317: week
- $290: strong
Testing the 337-345 has failed in the last couple of weeks. Yet we can see in the slow fall a potential bearish trend in line with the former push:
- If this trend is broken (green line) BNB would likely test 317 and 290 areas.
- If it follow the green line as bottom and breaks the top downtrend (top red line) BNB will go again testing the 333, 337, 345 areas.
The uptrend to 350 was not sustainable anyway, the slow downtrend could well be healthy. Watch the news on BTC and BNB, lots happening recently, market is tense.
My assumption: 317 likely to fails, if so, short above 310 and buy/buy back at 290.