Brothers, I am Hongcai. BNB has been playing dead around 885 for a day, and that MACD crossover looks pretty? Don't be fooled! The shrinking volume has revealed that the whales can't push it anymore! On the eve of the weekend's trend change, I will give you the most crucial script!
News
24-hour liquidation of 1.13 million, among which long positions were liquidated for 986,000, while short positions were only 146,000! Data doesn't lie: the recent tactic of the whales is to 'drive up and liquidate the bulls.' The market is dominated by contract leverage, with severe emotional fluctuations, and could violently spike at any moment.
Technical analysis
Resistance 900: This is the “final exam” for the bulls. Only if it closes firmly at four hours can we consider the pullback over, then there will be a chance to push towards 930.
Support 870: This is the lifeline! Once the volume breaks down, it is highly likely to quickly dip to 830. The current golden cross without volume is a classic trap to lure in buyers.
My view
Based on my experience, there is a shortage of funds on weekends, and it is extremely difficult to directly stabilize at 900 with a large volume today. The greater risk is: the whales may first pretend to break above 900, attracting retail investors to chase the rise, and then quickly reverse and crash the market, directly piercing through 870! Before the direction is clear, do not easily fall for it.
What should you do?
If you have positions: Take advantage of the rebound to the 898-905 area, reduce your holdings! Don't be greedy for the highest point. If you want to enter: Absolutely do not chase high! Either wait for a pullback to stabilize around 870 and lightly try a long, or wait until it firmly stands above 905 before looking for opportunities.
Newbies remember: Weekend market is mediocre, watching more and acting less is the best strategy. Keep your hands off, wait for next week.
BNB today focuses on the 886-900 oscillation range. Selling is the main strategy near 900, while light buying can be considered near 870. Before the whales reveal their bottom line, protecting your principal is your top priority!
I am Hongcai, a blogger who only speaks the truth. Follow me, let's protect profits together amidst volatility! Many people only look at rises and falls but do not understand the rhythm. The cryptocurrency market does not lack opportunities, but lacks patience and strategy. Follow me, not just for the code, but to learn when to act and when to wait. Follow Hongcai, Hongcai will answer you one by one!#加密市场观察 $BNB
