$BNB Rejected at $698 — Pullback or Bull Trap? 👀🥊🥊
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Setup (Short):
• 🔽 Entry: $679.00
• 🎯 Take Profit (TP): $642.00 – retest of the last support zone
• 🛡️ Stop Loss (SL): $700.00 – just above the recent local top
• ⚡ Leverage: 10x
• ⚖️ Risk Level: Moderate
• 🔁 Type: Short
• 🧠 Strategy: Swing rejection at resistance
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Analysis Summary:
BNB has been in a strong uptrend, but today’s candle shows a rejection just under $698 — a level that has been tested twice and failed. The small red candle hints at possible weakness, and volume has not supported the breakout attempt.
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📊 Key Observations:
• Rejection at $697.98 twice = double top setup potential
• MA(7) and MA(25) still bullish but starting to curve
• Low volume continuation = weakening buyer momentum
• Volume support declining since peak
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Bearish Playbook:
If price breaks below $670 with strong volume, expect acceleration toward $650 or even the 25-day MA at ~$654. A decisive close above $700 would invalidate the short.