Market Context
BNB is trading at $601.60, down 2.25%. Price is below all major moving averages:
· MA(7): $610.72
· MA(25): $617.07
· MA(99): $721.75
The MA(7) recently crossed below MA(25), a bearish death cross. Volume appears relatively light, suggesting weak buying pressure.
Chart Structure
The Y-axis shows a range from roughly $600 to -$800, which is unusual. The volume data shows repetitive numbers (e.g., 11,083.733, 21,924.935), likely a data parsing error. However, the repetitive volume levels near 21,924 suggest overhead resistance around $610–$620.
The long list of volume-by-price levels from ~$600 up to ~$25,000 is clearly incorrect and should be ignored. Instead, focus on visible price action: BNB is near the $600 psychological support, attempting to hold.
Intraday Trading Signal (4H Bias, 15M/1H Execution)
Direction: SHORT
Rationale: Price below key moving averages, death cross confirmed, resistance near $610–$617. Bearish momentum likely to continue.
Entry: $602–$605
· Enter on a retest of the $602–$605 zone if price shows rejection.
Stop-Loss: $612
· Above MA(7) and recent swing high. If price reclaims $612, bearish setup invalid.
Take-Profit Targets:
1. TP1: $595 (psychological level, minor support)
2. TP2: $585 (next downside pivot)
Risk Management:
· Risk per trade: 1–2% of capital
· Position size: Based on stop distance (~$7–$10)
Confirmation:
· Wait for a 15-minute or 1-hour candle to close below $600 with volume.
· Or enter on a pullback to $602–$605 with a bearish candlestick pattern (e.g., shooting star, bearish engulfing).
Invalidation:
· Daily close above $612.
· Price breaks above $617 (MA25).
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