Hello Binance Community! 👋
The price of $BNB is currently stuck in a tight range between the main support sround $845 to $830 and resistance $865 to $880 level. This usually means a big move is coming soon, but we don't know which way yet.
The price is moving inside a symmetrical triangle or you can say a tight consolidation range.
This pattern shows that buyers and sellers are fighting, and the fight is getting tighter. We are waiting for one side to win, which will lead to a fast breakout move up or down.
The chart is currently in a wait and see mode. There is NO confirmed buying or selling opportunity right now to make a high-probability, short-term profit. The best plan is to wait for the price to break out of the current tight range.
For $BNB Bullish / Buy signal: Price must break and close a 4-hour candle above the $880 resistance.
Entry: Buy above $880
Take Profit: Aim for the next major level around $900 - $920.
Stop-Loss: Place your stop below the recent swing low, around $860.
For Bearish / Sell signal: Price must break and close a 4-hour candle below the $830 Support.
Entry : Sell below $830.
Take Profit : Aim for the next strong support around $810 - $800.
Stop-Loss: Place your stop above the recent swing high, around $850.
Which way you would like to gain profit with $BNB ?
#bnb #priceanalysis #trendanalysis
