๐ BNB is Currently in a Healthy Correction Phase ๐
After making a recent high around $861, BNB is showing signs of a natural correction, which is often a good opportunity rather than a reason to panic.
Using the Fibonacci retracement tool, we can identify potential levels where price may retrace before continuing its upward trend.
๐ Key Levels to Watch:
50% Fib Level at around $730
62% Fib Level at around $700
These levels are commonly respected in trending markets as they act like strong support zones where price often bounces back.
๐ก What Can Traders Do?
You can consider placing limit buy orders near these zones, anticipating a continuation of the uptrend after the retracement is complete. These entries offer:
Better risk-reward
Closer stop-loss placements
Entry at value zones where institutional players often accumulate
๐ Remember, nothing is guaranteed in the markets, but planning your trades around probability and structure gives you a better edge.
๐ Stay alert for confirmations like a structure shift.
