The bearish structure on $BNB is getting hard to ignore. We're now testing a multi-month support trendline, and a break below could trigger that 15% correction everyone's talking about, potentially toward $730.
The numbers confirm the weakness: an 11% drop from the December high near $924 to a low around $822. Momentum is anemic, with the token struggling below the $860 resistance and critical support sitting at $818. Spot volume is down 17%, yet derivatives activity is up 43%—traders are hedging, not buying.
Here’s my contrarian read: This looks like a classic shakeout. Despite the price pain, the weighted funding rate has stayed positive, and we're seeing persistent spot outflows from exchanges. This signals accumulation, not panic selling. Smart money might be quietly loading up while retail focuses on the breakdown narrative.
The play is clear: watch the trendline and the $818 support. A loss here and we head lower. But if we get a reclaim above $860 with volume, this entire move could be a bull trap. I'm leaning toward the latter.
Is this the final flush before a reversal, or the start of a deeper dive? What's your take?