$BNB Short Setup – Bearish Momentum Confirmed?
Opened a short position on BNB/USDT as the price rejected from the $660 resistance zone and failed to hold above key moving averages.
Technical Outlook:
• Bearish flag breakdown confirmed on the daily chart.
• Price trading below 25 & 50 EMA.
• Funding rate shifting toward neutral/slightly negative – indicating increased short interest.
My Setup:
• Entry: $655
• TP1: $630
• TP2: $600
• SL: $670
• Risk-Reward: ~1:3
If BNB loses $630 support, we may see accelerated downside toward $580. Keeping an eye on volume and BTC correlation.
Not financial advice – just sharing my view. Let’s see how this plays out.
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