BNB/USDT - Short Setup Looking Tempting! 🚨
$BNB is showing some classic signs of a potential pullback here at the $868 zone.
Here's why I'm eyeing a short:
➡️ Price vs. MAs: Trading well below the heavily declining MA(10) at $1,004, confirming the overall bearish trend. It's also struggling to hold above the MA(5).
➡️ Momentum: The Stochastic RSI is screaming overbought at a level of 0.92! This often precedes a swing downward.
➡️ Levels to Watch:
· Resistance: The 24h high near $881 is key. A break above there invalidates this idea.
· Support: Looking for a move down towards $860 and possibly $855.
My Plan:
· Short Entry: $868 - $872
· Stop-Loss: $882 (above the recent high)
· Take-Profit: $860 (TP1) & $855 (TP2)
Always manage your risk! This is not financial advice.