BNB market analysis and trading ideas
From the 4-hour level, the Bollinger Bands currently have the price oscillating around the middle line with no significant movement. The Bollinger Bands are either slowly converging towards the middle or are flattening out, which is quite straightforward— the market does not plan to surge in any direction at this moment; it is merely 'taking a break to consolidate', gathering strength for the next directional move. It’s important to highlight: the middle line is crucial! If it can hold above the middle line, the short-term trend will lean strong; if it cannot hold and breaks below, the short-term momentum may weaken.
Now, regarding the MACD, it hasn't given a clear signal yet; we need to wait for it to provide a definitive signal— either forming a golden cross (two lines pointing upwards) or a death cross (two lines turning downwards). If the MACD establishes a direction within today, the short-term trend will become clearer. Moreover, we cannot solely rely on the MACD; we must also consider whether the price can break through the key levels to judge whether there’s momentum to continue moving.
We need to remember the key price levels and not get flustered later:
Resistance: The 1050-1070 USD range is a barrier. If it can be steadily broken, the short-term upward space will open up, and the next step will likely head towards 1080-1100 USD.
Support: 1000 USD is an important psychological level and is also a solid support. If it cannot hold 1000, the bearish momentum will strengthen, and the next support will need to be looked at around 982-968 USD.
Finally, trading suggestions: short near 1026-1033, targeting 1011-996. Of course, I must remind you that the market is not absolute; remember to set a stop-loss when trading, don’t be greedy or panic, and stay steady for the most reliable approach. $BTC