🚨 BNB Breakdown or Bounce? Critical Levels in Play! 🚨
BNB is hanging by a thread below $600 — and the charts are flashing warning signs across all timeframes. Is a bigger drop coming?
📉 1H & 4H Charts:
Price rejected from $607–610, forming a lower high and possibly a bearish flag.
MACD shows fading momentum; volume spikes on red candles = distribution.
Support sits at $590, but a break targets $585 → $550.
📊 1D & 1M Timeframes:
Macro triple top near $790 is confirmed.
Current candle forming a bearish engulfing on the monthly — mid-Bollinger Band at ~$590 is the line in the sand.
RSI rolling over from overbought, momentum shifting bearish.
🧠 Fundamentals?
BNB’s deflationary design (quarterly burns) keeps long-term prospects intact, but recent CEX inflows suggest caution. No major news, and sentiment is shaky amid broader market pullback.
🎯 Trade Setups
Scalp Long: $595–597 → TP $610, SL < $590
Swing Short: $610–620 rejection → TP $550–560, SL > $645
Breakout Buy: Flip $645 cleanly → Target $700+
📌 Key Levels:
Support: $585 / $550 / $500
Resistance: $610 / $645 / $790
🧭 Zoom out: As long as $550 holds, long-term structure remains intact — but short-term traders, stay sharp.
Set alerts. Manage risk. DYOR.
Bullish or Bearish on BNB from here?