Bearish dominance! The downtrend of BNB is hard to reverse, and rebounds are just traps to induce more buying.
After a previous surge, BNB has started a clear downward trend, currently deep in a descending channel, with the trend suppression very evident. The short-term moving averages have formed a bearish arrangement, with pressure from above stacking up layer upon layer, while the support below is weak and unable to counteract the downward momentum. The trading volume has been continuously shrinking, and the rebound lacks the support of capital momentum, confirming the market's weak buying interest and low bullish sentiment. Although a slight rebound has appeared in the short term, it is merely a weak correction during the downtrend, with no technical signals indicating stabilization or reversal. The probability of continuing the oscillating downward pattern is high, and the bearish trend will still dominate the market direction.
In the evening, focus on shorting around 905 and 915. The target is 860, and if broken, continue to look down to 840.
