Today, the BNB daily defense support has been declared lost, and the market is bleeding profusely! At this moment, I will unveil the cruel truth behind BNB's sharp decline and tell you: is 820 really the paradise for bottom fishing? Is the rebound at 890 an opportunity or a trap? Should retail investors cut losses and exit, or fight back?
News aspects
The number of initial unemployment claims in the U.S. for the week ending December 6 will be released tonight. If the data released is bullish, it means: the number of unemployment claims is more than expected, indicating that the U.S. labor market is worse than imagined, and the economy is cooling down faster.
If the data released is bearish, it means: the number of unemployment claims is less than expected, indicating that the U.S. labor market is more resilient than imagined, and the economy still has strength.
Technical aspects
Currently, the BNB price is struggling around 870, with resistance above like a mountain and support below like paper.
The daily defense support has been broken, which means the medium to long-term trend has turned weak. Any rebound that does not stabilize above 890 is just a dead cat bounce.
890 is the first ghost gate, 950 is the strong pressure zone. Breaking through 890 allows the market to breathe; breaking through 950 can restore the upward trend.
860 is the short-term psychological defense line, while 820 is the real strong support.
MACD is under the water with a death cross, green bars shrinking, and selling pressure far exceeding buying pressure; market sentiment is close to a freezing point.
My view
I believe that BNB will engage in a bloody game between 860-890 in the short term. 820 is strong support, but it does not mean it won't break; 890 is the key to rebound, but it does not mean that breaking through guarantees safety. The most dangerous action for retail investors at this moment is 'blindly bottom-fishing.' Remember, bear markets do not declare bottoms, especially when macroeconomic bearish factors have not dissipated. (If you don't know how to operate now, or if you're stuck, the best solution is to come to the chat room and find me for guidance.)
What should retail investors do?
Aggressive investors: a small position can be taken around 860 for a quick rebound; enter and exit quickly;
Conservatives: the market drops to around 820-840, and bulls enter the market;
Keep a close eye on the movements of on-chain whales: where the dealer's money flows, the market will follow. I will monitor the BNB main wallet and contract position changes in real-time within the channel, helping you see the direction in advance.
The market is never short of opportunities; what it lacks is the capital to survive until the day opportunities arise. Staying clear-headed in panic and looking for signals in despair is the only way for players to turn the tide.
If you don't know the specific entry timing and exit points, as well as the fans holding positions, you can follow Hongcai, who will announce daily coins and entry and exit points at the God of Wealth's house 24 hours a day!!!#加密市场反弹 $BNB
