BNB ANALYSIS: OVERALL TREND IS STILL DOWN!
BNB ANALYSIS:
BNB is trending UPWARD, but failing to make higher highs. This is concerning and typically leans towards a incoming fall and a break of the trend. I expect this fake out to clear out some short positions before breaking down further. Im expecting T1 to be hit just before the trend line at $11.10. IF the trend does indeed break, look for T2 at $10.40, and finally T3 at $9.25. Overall trend is still down, so do not be fooled yet. Even with the hourly pump, 50MA is still downtrending below 100MA, bearish tone here. Any touch back into hourly resistance is a nice spot to short.
Possible Entries: 11.80-12.40
BNB is trending UPWARD, but failing to make higher highs. This is concerning and typically leans towards a incoming fall and a break of the trend. I expect this fake out to clear out some short positions before breaking down further. Im expecting T1 to be hit just before the trend line at $11.10. IF the trend does indeed break, look for T2 at $10.40, and finally T3 at $9.25. Overall trend is still down, so do not be fooled yet. Even with the hourly pump, 50MA is still downtrending below 100MA, bearish tone here. Any touch back into hourly resistance is a nice spot to short.
Possible Entries: 11.80-12.40
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