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NEXT $BNB 🔥LONG TRADE SETUP

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TRADE SETUP 🔥

CURRENT PRICE : 599

TAKE PROFIT : 630

STOPLOSS : 580

AT PRICE 630 MUST 50% TRADE CLOSE

*TECHNICAL ANALYSIS PLUS FUNDAMENTAL ANALYSIS * 👇

Binance Coin (BNB) has shown promising signs of a potential bullish trend. Here are some key points to consider ¹ ² ³:

- *Current Price:* BNB is trading at $599.84, with a slight decrease of 0.02% from the previous close.

- *Resistance Levels:* BNB faces key resistance at $610, which could determine the next leg up. A clear move above this level might trigger a rally toward $620-$635.

- *Bullish Momentum:* Technical indicators like MACD and RSI show bullish momentum building, supporting the potential for an upside move.

- *Ascending Parallel Channel:* BNB's price movement has created an ascending parallel channel, which could pave the way for a new all-time high if the $670 horizontal area is breached.

- *Potential Targets:* Some predictions suggest BNB might aim for $854, based on the 1.61 external Fibonacci retracement of the drop.

*Key Scenarios:*

- *Breakout Confirmation:* A daily close above $630 could confirm a breakout, potentially leading to further gains.

- *Support Levels:* BNB needs to hold above $595-$600 to maintain bullish momentum. Failure to do so might weaken the setup and expose support levels.

Keep in mind that cryptocurrency markets are highly volatile, and prices can fluctuate rapidly. These points are based on current market analysis and should not be considered financial advice.