Friends, I am Hongcai! BNB has been steadily climbing these days, pushing up from around 820, and is now on the brink of 850! Everyone is asking: Can it break through this time? How high can it fly if it does? How badly will it fall if it doesn't? Don't worry, I'll make it clear for you!
Capital situation
Data doesn't lie: BNB's contract position increased by $2.23 million in the last 24 hours, with long positions accounting for $1.77 million, nearly four times that of short positions! This indicates that large funds are optimistic about a breakout and are betting on an increase. However, be aware that short-term data from the past hour and four hours shows that shorts are quietly adding positions, indicating that at the current level, some funds are becoming cautious and ready to take profits. This is not a bad thing; a healthy market needs turnover.
Technical analysis
From the 4-hour chart, BNB buying is greater than selling, with a commission ratio of +0.69%, overall advantageous, and MACD shows signs of a death cross turning into a golden cross! This indicates increased upward momentum, but if there is no volume support when breaking through 850, it is likely a false breakout, followed by a rapid decline. There is heavy pressure above, with 850-880 being the last defense line for bears, and initial support looking at 820. If 820 breaks, this rebound will be declared over, looking down to 790, and in extreme cases, to 750.
Hongcai's viewpoint
Directly attacking 880 is difficult; it's more likely to fluctuate around 850, even a false breakout followed by a pullback to support. So remember this: Better to miss out than to make a mistake.
Old players: A small position can be tried in the 850-880 range, with a stop loss above 895, and a target of 830-820. If it stabilizes after a pullback to 820, you can go long; if it directly breaks through 880 with volume, then stop loss on short positions and follow the trend to go long.
Novice players: Don't chase just because it's bullish! If you rush in now, you might buy at a short-term high. It's advisable to wait for two positions: either follow up after a volume breakout above 880 with a confirmation pullback, or wait for it to stabilize around 820 or even 790 before gradually entering. At other times, isn't it better to watch?
Market trends are born in despair and rise in hesitation. Follow me, and Hongcai will guide you to trade with the mindset of the main force. Keep an eye on the 850 battle tonight; if it breaks through, look for 880, and if it breaks down, watch for 820—don't let emotions take over!
In the market, the most important thing is not to predict every wave, but to ensure you are always on the boat. The tide of liquidity will eventually lift all true value boats. Follow Hongcai and participate in every attack! Hongcai will announce specific entry times and real-time news in the chat room every day! #加密市场观察 $BNB
