$BNB Breakout Setup – Still in the Game or Rejection Ahead?🔑👇
Current Price: $630.47
Timeframes Analyzed: 1H and 1D
Pair: BNB/USDT
1D Chart Breakdown:📊
Structure: $BNB Price has been consolidating tightly under the $632 key EQH (Equal Highs) liquidity level. This is a significant supply area, and the repeated rejections here highlight seller dominance.
Moving Averages: Price is battling around the 200MA and 100MA – acting as dynamic resistance.
Oscillator: Stochastic RSI cooling off from overbought, showing a potential short-term weakness.
1H Chart Strategy:📊
Market Structure: A temporary pullback has occurred after another failure to break and close above $632.29.
Support Levels: Immediate support lies at $627 - $622, with deeper demand around the $616-$618 range.
Reclaim Watch: Bulls need to flip $632.29 into support to open up upside potential toward $650 - $675, and ultimately challenge the $710-$800 major supply zone.
Stochastic RSI: Oversold with a slight cross upward – early bullish signal, but needs confirmation.
Trade Idea (Swing-to-Intraday Hybrid):🧑💻
Long Bias only if $632.29 is broken and closed above with volume.
Entry: $630-$631 (confirmation bounce)✅
TP1: $642🎯
TP2: $675🎯
SL: $621 (below EMAs cluster)☣️
Takeaway:🧑🏫
$BNB continues to hold above key EMAs but is facing repeated rejection at $632. This is a make-or-break level. A confirmed breakout may trigger a strong bullish wave, but until then, expect sideways chop or short-term dips. Patience pays in compressed zones.
Pro Tip:👨🏫
Never chase a breakout without volume – especially in sideways markets like this. Wait for that decisive push or get ready to fade the breakout trap.
#👨❤️👨“The market doesn’t reward speed, it rewards patience with precision.”
Disclaimer:⚠️
This content is for educational and informational purposes only. Not financial advice. Always DYOR and manage your risk.
