$BNB /USDT around $615 and planning to wait for a pullback before entering a long position. Here’s a structured way to approach it:
1. Key Levels to Watch
Support: $587 – $590 (recent 24h low) → potential pullback zone for entries
Resistance: $618 – $620 (recent 24h high) → be cautious near this zone
Psychological levels: $600, $620, $650 → often cause price reactions
2. Pullback Strategy
Wait for price to dip near support zones (ideally $590–$600).
Look for confirmation candlestick patterns:
Hammer, bullish engulfing, or pin bar on lower timeframes (15m–1h).
Check volume spikes → strong buying near support is a good sign for a long.
3. Entry & Risk Management
Entry: Around $590–$600 after confirmation
Stop-loss: Below the support zone (~$585)
Targets:
TP1: $618–$620 (recent high)
TP2: $640–$650 (next strong resistance)
4. Extra Tips
Monitor market sentiment & BTC trend, since BNB often moves with BTC.
If pullback is shallow and price rallies quickly, consider a scaled-in entry instead of all at once.