Rejection building below resistance… looks like a lower high setup.
$BNB /USDT (Perp) – SHORT
Trade Plan
Entry: $635 – $648
SL: $655
TP1: $622
TP2: $615 (key support)
TP3: $600
Why This Setup?
4H Structure: Price struggling to reclaim $649 resistance → forming potential lower high after recent rejection. No breakout confirmation.
Price Positioning: Trading just below resistance zone → ideal area for short entries with tight invalidation.
MA Context: Price likely interacting with short-term MAs without strong bullish expansion → momentum not convincing for upside continuation.
RSI Behavior: RSI hovering around mid-zone → no strong bullish momentum, leaves room for downside move.
Volume Insight: Lack of aggressive buying near resistance → suggests weak demand, possible distribution.
Daily Context: Still trading inside a range. Unless $649 breaks clean, upside remains capped and pullback toward $615 zone is likely.
As long as $649 holds, downside toward $615 liquidity remains the higher probability move.
Debate:
Is this a clean lower high before a drop toward $600…
Or will buyers break $649 and push BNB into a fresh breakout?
Trade $BNB here 👇
