Good evening, bros. The weekend market is holding strong like a champ. Only BNB is skyrocketing by nearly 7 points; this surge is related to the US stock token launch earlier this month. We heard about this news yesterday, but didn’t expect it to blast off today. Unfortunately, my BNB short has already hit my entry price, but thankfully my spot holdings are doing great. Let's see if this news will pull back after it’s fully digested!
I mentioned during lunchtime yesterday that this bottom hasn’t been breaking, so a rebound was highly probable. Now we’re seeing that play out. Bitcoin and Ethereum on the daily charts have already dropped consecutively for 4-5 candles. This downtrend is likely nearing its end. Yesterday's daily close formed a doji, which signals a potential reversal. As long as we can break out strongly from the top of this consolidation zone, we should see a powerful rebound. Once we break above, we can still go short with light positions at the resistance levels!
Earlier today, I pointed out that the small-time bulls are gaining strength. We were waiting to buy near the previous lows, but surprisingly, it only dipped below the white line before shooting up. The fluctuations in the afternoon were minimal, but the points from lunchtime are still relevant. During the night, if the price dips down to the white line, we can enter long with a light position. Like I said: if the previous lows hold, we will definitely see a rebound, so it’s not advisable to short at the top of this consolidation zone. If you must, keep it light and short!
The upside resistance for BNB is at 690-705-725. If there’s good news, it might not pull back that quickly. For those with heavier short positions down below, the stop-loss should be set at the previous high of 690. For lighter positions, consider adding more at 725 or 745! #BNB走势 $BNB
I mentioned during lunchtime yesterday that this bottom hasn’t been breaking, so a rebound was highly probable. Now we’re seeing that play out. Bitcoin and Ethereum on the daily charts have already dropped consecutively for 4-5 candles. This downtrend is likely nearing its end. Yesterday's daily close formed a doji, which signals a potential reversal. As long as we can break out strongly from the top of this consolidation zone, we should see a powerful rebound. Once we break above, we can still go short with light positions at the resistance levels!
Earlier today, I pointed out that the small-time bulls are gaining strength. We were waiting to buy near the previous lows, but surprisingly, it only dipped below the white line before shooting up. The fluctuations in the afternoon were minimal, but the points from lunchtime are still relevant. During the night, if the price dips down to the white line, we can enter long with a light position. Like I said: if the previous lows hold, we will definitely see a rebound, so it’s not advisable to short at the top of this consolidation zone. If you must, keep it light and short!
The upside resistance for BNB is at 690-705-725. If there’s good news, it might not pull back that quickly. For those with heavier short positions down below, the stop-loss should be set at the previous high of 690. For lighter positions, consider adding more at 725 or 745! #BNB走势 $BNB