$BNB has been grinding around 615 all day, looking steady, but it’s not really strong.
The 4-hour structure is still leaning bearish; even though the order book shows more buy orders than sell orders, the real volume pushing the price is consistently selling. Takers are still leaning short, indicating that the market power is still in the hands of the sellers.
What’s more crucial is that spot funds are continuously flowing out. No matter how many buy orders are up there, without real cash coming in to back them, they’re just decorations.
Right now, everyone is waiting for the evening news to drop, and until we see a clear return of funds, any bounce we get will likely be limited.
$BNB
The 4-hour structure is still leaning bearish; even though the order book shows more buy orders than sell orders, the real volume pushing the price is consistently selling. Takers are still leaning short, indicating that the market power is still in the hands of the sellers.
What’s more crucial is that spot funds are continuously flowing out. No matter how many buy orders are up there, without real cash coming in to back them, they’re just decorations.
Right now, everyone is waiting for the evening news to drop, and until we see a clear return of funds, any bounce we get will likely be limited.
$BNB