$BNB Greetings, Binance community! Here is your friend and trader
Today we are going to analyze the impressive chart of $BNB that many of you are watching with excitement (and some with nerves).
The chart we have on screen is a masterclass in momentum. A true beauty! We see BNB at 781 USDT, breaking resistances with tremendous force. The moving averages (7, 25, 99) are perfectly aligned and pointing to the sky, acting as solid dynamic support. The MACD confirms this story, showing a strong bullish trend. Technically, this is what we look for in a powerful market. 🚀
BUT (and as a veteran, there is always a 'but'), this is where experience comes into play. Look at the RSI: it is above 83. That, in any manual, means 'extreme overbought'. The air is getting thin at these altitudes.
What do we do?
* If you are already in: Congratulations! It’s a great trade. Consider securing some profits. Don’t be greedy. You can use a trailing stop to protect your profits and continue participating in the rise.
* If you are out: Be careful with FOMO (fear of missing out). Entering at the peak of a parabolic rise is one of the fastest ways to lose money. The smart move is to wait for a consolidation or a healthy pullback towards one of the moving averages to find an entry point with a better risk/reward ratio.
The news about improvements in BNB Chain and the increase in its utility are driving this rally, but the market always breathes. Trade with a plan, not with euphoria.
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