Observing the BNB/USDT chart on the H1 timeframe, it can be seen that the main trend remains bearish with many confirming signs that the sellers are in control of the market. First, we see a series of consecutive Break of Structure (BOS), indicating that the price is making lower highs and lower lows - a typical characteristic of a downtrend. Additionally, the previously appeared Change of Character (ChoCh) further reinforces that the downtrend has indeed formed and shows no signs of being broken.
Currently, the price is testing the order block in the Fibonacci 0.618 - 0.786 area, a potential zone for the price to react and continue the downtrend. If this scenario unfolds, it is highly likely that the price will only retrace to attract liquidity before continuing its strong decline down to the 494.09 USDT area, or even lower. The emergence of Equal Low (EQL) BOS near the 543.76 USDT area indicates that the sell-side liquidity has not yet been swept, which could become an attractive target for market makers.
So, what trading opportunities are opening up? If the price shows a clear reaction at the current resistance zone and creates additional signs of weakness (such as a bearish engulfing, strong rejection), this could be a sell entry point with a high risk-reward ratio. But remember, the market is always unpredictably volatile - risk management and patiently waiting for confirmation remain key to success. Do you see this scenario as feasible, or do you have any other insights?