#BNBUSDT Showing Signs of Weakness | Is it Time to Sell #BNB?
Yello, Paradisers! Are we about to witness a major #BNB breakdown or a move upward? Let's discuss the latest analysis of #BinanceCoin:
💎#BNBUSDT has been showing clear signs of weakening bullish sentiment, much like Bitcoin. Recently, we observed a failed breakout from a key resistance zone, further strengthening the bearish outlook. Now, as #BinanceCoin approaches this major resistance again, there’s a real possibility it could fail to break through once more.
💎The diminishing trading volume and the Point of Control (POC) from the VRVP indicator acting as resistance increase the chances of a further drop. If #BNB fails to break the crucial resistance zone between $610-$637, it’s highly likely we will see a retest of the Bullish Order Block (OB) at $471.6.
💎However, should #BNB fail to hold at $471.6, the next major support zone to watch is at $387. This area is rich in liquidity and could create a strong opportunity for a pullback if tested.
💎On the flip side, if the symmetrical triangle’s lower support holds up well, we could see the bulls regaining control, potentially sparking a bullish rally. Keep in mind that the overall market sentiment, along with Bitcoin’s price movements, will play a key role in determining #BNB’s next move.
If you want to be consistently profitable, you need to be extremely patient and always wait for high-probability trading opportunities.
MyCryptoParadise
iFeel the success🌴
💎#BNBUSDT has been showing clear signs of weakening bullish sentiment, much like Bitcoin. Recently, we observed a failed breakout from a key resistance zone, further strengthening the bearish outlook. Now, as #BinanceCoin approaches this major resistance again, there’s a real possibility it could fail to break through once more.
💎The diminishing trading volume and the Point of Control (POC) from the VRVP indicator acting as resistance increase the chances of a further drop. If #BNB fails to break the crucial resistance zone between $610-$637, it’s highly likely we will see a retest of the Bullish Order Block (OB) at $471.6.
💎However, should #BNB fail to hold at $471.6, the next major support zone to watch is at $387. This area is rich in liquidity and could create a strong opportunity for a pullback if tested.
💎On the flip side, if the symmetrical triangle’s lower support holds up well, we could see the bulls regaining control, potentially sparking a bullish rally. Keep in mind that the overall market sentiment, along with Bitcoin’s price movements, will play a key role in determining #BNB’s next move.
If you want to be consistently profitable, you need to be extremely patient and always wait for high-probability trading opportunities.
MyCryptoParadise
iFeel the success🌴
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Follow a team of traders with 10+ years of experience?
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