9.9 Afternoon $BNB
Technical Analysis
4-hour Period: BNB is currently fluctuating around 874.89, situated between the middle and upper bands of the Bollinger Bands. The overall Bollinger Bands are in a contracting state. From the perspective of moving averages, the resistance level is 878.38, with support at 862.51, indicating that the bullish and bearish forces at the 4-hour level are currently in a tug of war, although the overall upward trend has not been broken for the time being.
1-hour Period: The price is operating below the middle band of the Bollinger Bands, and the opening of the Bollinger Bands is slightly narrowing. The short-term moving averages MA7 and MA30 are relatively close and flat, indicating that the bullish and bearish forces in the market at the 1-hour level are tending to balance, and the direction is currently unclear.
In summary, after experiencing a prior rise, BNB is currently in a high-level consolidation phase, with both bulls and bears competing near the current price level, without a clear winner emerging.
Operational Suggestions
Long Position: If the price stabilizes around 868 - 870 after a pullback, a light position can be taken for a long position, targeting 880 - 883, and further looking towards 888 after breaking 883.
Short Position: If the price rebounds to the 878 - 880 range and meets resistance, a light position can be attempted for a short position, targeting 870 - 872, and looking down to 865 after breaking that level.
It should be noted that the cryptocurrency market is highly volatile, and the above operational suggestions are for reference only. Investors should strictly control their positions and risks in actual operations and adjust strategies promptly according to market changes.
