BNB is stuck in the 'meat grinder' at 830 dollars; there will definitely be a bloody battle between bulls and bears tonight!
Brothers, take a look at this BNB one-hour chart, it's like being constipated, stuck oscillating around 830. Let's just say, this market is 'stuck in the middle, hard to go up or down!' Why do I say this? Let me explain:
There are two big mountains above, the pressure is immense!
At 850 dollars and 860 dollars, these two positions are like two burly men blocking the staircase. Want to go up? Without some serious cash or explosive good news, there's no chance! Today? I see it as a tough climb!
What’s the immediate trouble? It’s this 831.3 to 831.4! Look at those hanging order data, densely packed with 'bear brothers' waiting to sell, a complete 'sell wall'. If it rises a few cents, a bunch of people will immediately dump and run. Until this wall is broken, don't even think about 850/860!
At 820 below your feet is the lifeline; if it breaks, the sky will change!
Below 820 dollars is today's 'lifeline'! If this position really gets smashed through, the technical analysts and quant traders will surely follow suit, opening up downward space, and the situation will look grim.
Why is there hesitation around 831 now? Look at the transaction records; there was a 'big order' of 200,000 dollars made from 831.35 to 831.38! What does this indicate? Bulls and bears are competing in this small area! From 831.3 to 831.35, it's barely holding as a 'small stool', but it's unstable. If the one-hour line closes and smashes through 831.3 decisively, brothers, fasten your seatbelts; it's highly likely we will head straight to 820 to 'test the bottom'!
Mig's operational tips:
Don't short blindly as long as 820 holds: Is it wise to chase shorts blindly with strong support unbroken? Be careful not to get pierced by the bulls' 'counterattack'!
Don't short as long as 850/860 holds: The two big mountains above look heavy; rushing in without a clear breakout signal? You might end up halfway up the mountain!
What’s the optimal solution right now? — Hold on! Or play 'dancing on the edge of a knife': Keep most of your positions on the sidelines! If you’re really itching to trade, use a small position, only engage in 'shorting high and going long low' at critical points. Remember! Quick in and out, set good stop-losses, don’t get too attached!
The most crucial point: Keep a close watch on 820 tonight! If it breaks down with volume, forget it, the trend will weaken, and it's time to run!
Want to make money in the crypto world? Just follow Mig! Market trends, strategies, potential coins, one-stop solution! Click on the avatar and follow now!
