Here is a technical analysis of BNB/USDT based on the 1-hour chart you provided:
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š Current Price: $653.49
ā 24h Change: +0.51%
š 24h High: $657.12
š 24h Low: $646.72
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š§ Trend Direction
Short-term trend: Bullish, but showing signs of minor consolidation.
Price bounced sharply from $646.72 and peaked at $657.12, forming a near-term resistance.
Price is now consolidating around $653, sitting slightly above the MA(25) - $651.75 and MA(99) - $647.42 which act as support levels.
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ā Entry Point
Ideal Long Entry: Near $650ā652 (close to 25 MA and horizontal support).
Safer entries can be placed after confirmation candle (e.g., bullish engulfing or strong green volume).
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šÆ Take Profit (TP) Levels
TP1: $657.00 (recent resistance)
TP2: $662.00 (next psychological and technical level)
TP3: $670.00 (extended move target if breakout happens)
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š Stop Loss (SL)
Conservative SL: $646.50 (just below recent swing low)
Aggressive SL: $648.50 (below MA(99) and strong wick support)
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š Volume Analysis
Strong green volume spike at breakout.
Volume decreasing slightly during consolidation ā indicates potential for next move if volume increases again.
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š Bearish Scenario
If price breaks and closes below $646, expect a correction toward:
Support zone: $641ā$637
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š Strategy Suggestion
Scalpers: Buy near $650, TP at $657, SL $646.
Swing Traders: Accumulate in $647ā652 zone with SL $645, TP1 $662, TP2 $670.
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