1) Macro Overview (USDT Dominance):
- We’ve just broken above 4.38% on USDT Dominance, a key resistance level.
- As long as USDT Dominance remains above 4.38%, it suggests a potential start to a broader
bear market.
- A drop back below 4.38% and the Yearly Open would invalidate this bearish scenario.
2) BNB Technicals:
- BNB’s chart structure looks weak and appears to have topped.
- I’m watching the $600 – $640 zone (confluence with the previous Monthly Low) as a potential
area for short entries.
- Overall momentum suggests fading any rallies into that zone.
3) Trade Idea:
- Short BNB on any push between $600 – $640.
- Take profits into the green boxes.
- Tight risk management is crucial; a strong reclaim above this range could invalidate the short
setup.
As always, manage your risk carefully, this is just my personal view, not financial advice. Good luck and happy trading!
- We’ve just broken above 4.38% on USDT Dominance, a key resistance level.
- As long as USDT Dominance remains above 4.38%, it suggests a potential start to a broader
bear market.
- A drop back below 4.38% and the Yearly Open would invalidate this bearish scenario.
2) BNB Technicals:
- BNB’s chart structure looks weak and appears to have topped.
- I’m watching the $600 – $640 zone (confluence with the previous Monthly Low) as a potential
area for short entries.
- Overall momentum suggests fading any rallies into that zone.
3) Trade Idea:
- Short BNB on any push between $600 – $640.
- Take profits into the green boxes.
- Tight risk management is crucial; a strong reclaim above this range could invalidate the short
setup.
As always, manage your risk carefully, this is just my personal view, not financial advice. Good luck and happy trading!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Tik Tok: @tradingparadise.io
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.