Trump + SEC double kill warning! But a mysterious buy order appears for BNB, is this wave a trap or a pie?
8.27 Market's three major technical signals, must-see for retail investors!
Oversold area golden cross + volume-price divergence, short-term rebound is imminent.
KDJ golden cross in the oversold area, rebound momentum is ready to go.
Current BNB price is $857, KDJ indicator forms a golden cross at -7 position, which is a typical oversold recovery signal. Comparing historical data, in November 2023, after the golden cross at -10 position, BNB rebounded by 12% within 3 days.
Don't be scared by "price rising with decreasing volume", the bullish engulfing pattern in the last 4-hour candlestick is evident, and the lower shadow is as short as a razor—after the bears' trial failed, they were pressed down and rubbed by the bulls. The price stabilizing at the support level of $835 indicates that the bulls are quietly accumulating, expecting a rebound to the $860-$870 range.
Current BNB price is near the middle band of the Bollinger Bands at $850, the Bollinger Bands are narrowing, indicating a directional choice is imminent. Combined with the KDJ golden cross, the probability of a breakout upwards is higher.
Data support: Historical statistics show that within 72 hours after the Bollinger Bands narrow, the probability of a price breakout exceeds 60%.
The dual game of technical analysis and news
If the support level of $835 is broken, it may trigger stop-loss orders, dropping to $820. Although the trading volume has moderately increased, it has decreased by 15% compared to the previous day, and one should be wary of the divergence risk of "price rising with decreasing volume".
The U.S. SEC's license review of Binance still hangs like a sword of Damocles; if the key license is not approved, a repeat of the 2021 "negative impact crash" scenario may occur.
Lightly go long in the $835-$840 range, set a stop-loss at the previous low support of $826, target: near the $860-$870 range MA5 resistance level, if it breaks $870, look directly to $880. If the price drops below $835, immediately stop-loss and exit.
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