$BNB Long massive liquidation: Is the next big move on the way?
A massive long liquidation of $6,515 just occurred at $651.95 - a clear sign of bull exhaustion and the potential for a high-volatility setup. When the market liquidates long positions at such levels, it often indicates a deeper correction forming or a perfect re-test before a breakout. The real question: Is $BNB about to bounce or bleed?
Here’s the full technical analysis:
Analysis $BNB /USDT
Buy zone:
$638 - $645
This is a strong demand zone where previous price reactions indicate that buyers are entering forcefully. The recent liquidation brought the price near this area, providing a potential re-entry for strategic investors.
Target levels:
• Target 1: $660
• Target 2: $675
• Target 3 (extended): $690
These levels align with Fibonacci extensions and historical resistance areas. If the bulls regain momentum, we may see a rapid rise towards $675 and beyond.
Stop loss:
• $629
If BNB drops below $629 with trading volume, it would confirm weakness and invalidate the short-term bullish structure. Risk must be managed tightly.
Technical view:
• The liquidation at $651.95 likely shook out weak hands.
• The Relative Strength Index (RSI) is approaching the oversold area on the 4-hour time frame, indicating a potential rebound.
• The volume profile shows a strong support block in the $638 - $645 area.
This setup requires patience, precision, and discipline. Do not chase the move - plan for it.
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