#bnb #MarketRebound $BNB $BNB
đ Overall Trend Analysis: BULLISH but Overbought
The market is in an uptrend but is now overextended and needs to either consolidate or pull back.
Key Data Points:
· Price: Trading around ~1,129.36 (at the MA7)
· MAs: MA(7): 1,129.36, MA(25): 1,125.86, MA(99): 1,114.59
#BinanceHODLerTURTLE Critical Observation: The price is trading ABOVE all three Moving Averages, and the MAs are in a bullish stack (MA(99) < MA(25) < MA(7)). This confirms the uptrend is intact. However, the price is very close to the highs and the MAs are converging, suggesting a loss of momentum and a potential coiling period.
1. Bias: Cautiously BULLISH (The trend is up until broken).
2. Best Action: Wait for a confirmed move.
· For LONGS: Wait for a dip to 1,120 - 1,125 and a bullish bounce.
· For SHORTS: Wait for a rejection at 1,135+ and a break below 1,125.