Hello $BNB Brothers and Sisters ! So what is going on today ? Read below tonget some insights.
So as warned many a time, imbalances are areas of pro traders. Bothing tells that we are going to revisit them but some elements can help assessing the likelihood:
- Order volumes (buy and sell) - #BTC direction - proximity of imbalances (near) - amount of imbalances (quite a few)
Here what I see is - confirmed low trading volume (relative to few months back) - BTC going sideways (could very much go south if no need vlume buy side) - many imbalances in a few green days (euphoria) + ATH twice.
So my best bet, we are going to the further lower imbalance around the 770-765 USD area before rebound. But even if I am bullish, BTC movement will be the deciding factor wherher thisnis foloowed by climax run or not.
If this area fails we are looking at Monday low, it would be surprising to close today below monday low (reversal) and next daily imbalance towards 735 USD.
In the meantime, enjoy the market bouncing in the blue squares. In rwd and green lines, my reading and assumtion of what goes next.
#BNB buyers are reloading momentum.. Mark my words.
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