Wait, did $BNB just print a bottom or is this another trap?
Looking at the 1H chart, we’ve been stuck in this choppy range between 587 and 620. Every time it tries to break out, the sellers step in. Right now, it’s sitting at 606.59 after a quick rejection from that local high at 617. The structure is looking a bit weak honestly. We’ve got lower highs forming on the hourly. If we can't hold the 600 level, I’m expecting a flush back down to the 587 support zone. On the bright side, the order book shows some decent buy interest around 606 with about 77% bids, but that can vanish in seconds. Volume is steady at 132k BNB, but there’s no real "oomph" behind the moves. I’m staying cautious. I want to see a solid 4H candle close above 612 before I even think about a long position.
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Wait, did $BNB just print a bottom or is this another trap?
Looking at the 1H chart, we’ve been stuck in this choppy range between 587 and 620. Every time it tries to break out, the sellers step in. Right now, it’s sitting at 606.59 after a quick rejection from that local high at 617.
The structure is looking a bit weak honestly. We’ve got lower highs forming on the hourly. If we can't hold the 600 level, I’m expecting a flush back down to the 587 support zone. On the bright side, the order book shows some decent buy interest around 606 with about 77% bids, but that can vanish in seconds.
Volume is steady at 132k BNB, but there’s no real "oomph" behind the moves. I’m staying cautious. I want to see a solid 4H candle close above 612 before I even think about a long position.
#BuyTheDipOrWaitNow?