BNB Performs High Wire Act! $602 Welds the Life and Death Line for Longs and Shorts

BNB is playing with electric welding techniques at the $602 five-minute line, with the Bollinger Bands tighter than a Virgo's wallet. The upper track is stuck at $604 with a weekly level of trapped positions, while the lower track hangs at $593 with 50,000 liquidation orders. The MACD's two thin dog lines are frantically tearing each other apart below the zero axis, with the DIF line at -$0.10 being pressed down by the DEA line at $0.12, and the green bars shrinking to -$0.42 like a dead salted fish. The RSI's three lines are stuck around 49, playing dead. The market is glued to the doji star with 502 glue, and eight consecutive sesame volume candlesticks reveal that the dog traders are waiting for the Fed to hawk their explosion point.

On-chain Heavy News: Local Dog Market's Lifeline

This morning, the Binance Smart Chain suddenly launched three new projects. Although they are all local dog projects, they still gave BNB a 0.3% lifeline. The dog traders have buried five layers of selling pressure at $604, clearly wanting to harvest the tender leeks chasing the rise. The key variable is that the Trump family’s institutional stablecoin USD1 plans to debut on BNB Chain. This news sounds impressive, but compared to the neighboring GOAT, which surged to a $580 million market cap relying on A16z's backing, BNB's operation is merely riding the politician's traffic.

Exchange Clear Signal: Crazy Volume or Stampede?

The weekly triangular convergence has reached its end, at this position either a crazy volume breakout at $610 leads to an independent market, or it crashes through $590 triggering a chain stampede. Brothers with over 30% positions must place stop-loss orders at the current price! If you want to play, set limit orders below $593 for ambush, remember that a volume breakout above $604 can confirm the dog traders pulling the market; otherwise, all rebounds are just scythes to lure the bulls. News of the Fed hawking has left the whole crypto circle in a panic. If BNB dares to break $590, I would directly short on the right side, but the dog traders are likely to repeatedly draw boundaries between $590 and $600, playing a double kill for longs and shorts.

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