BNB surged to a new high of 1084 yesterday, but today it has pulled back to around 1048, clearly entering a phase of consolidation.
This market looks like it's searching for a buyer at high levels. Because:
After the main force raised the price at high levels, it didn't continue to push up, but chose to pull back, indicating heavy selling pressure above;
Returning to the vicinity of 1048, the market sentiment is becoming cautious, and the funds chasing the rise are starting to decrease.
So how should we view the situation next?
Upper resistance level: 1060–1080 range, this is a position where there have been multiple failed attempts to break through, making it difficult to break through and stabilize in the short term.
Lower support level: around 1030–1040, once effectively broken, it may trigger further declines, heading towards 1000 or even lower to test the bottom.
Operational thoughts:
In the short term, do not blindly chase highs; patiently wait for a stabilization opportunity after a pullback;
If you want to go long, it is best to wait for confirmation of support at 1030–1040 before considering;
If the main force continues to oscillate downwards, short positions may have more advantage than long positions.
BNB is temporarily biased towards downward oscillation and consolidation, and the market has entered a "hand-over period." The true direction will have to wait for the breakthrough results in the 1040–1060 range. The key now is not to get trapped by the main force's back-and-forth movements.
