BNB/USD - Bearish price action aiming for $400. Patience. ðĨš
BNB did a local top at $638 and since then we have been falling / correcting. We had an opportunity to make $530 support, however we failed that by falling below and re-testing this level as resistance. This is bearish on short term.
As such, I'd expect BNB to re-test the $400 level as support before we can hope for it to pump again as indicated by the green arrow. This is only a possible move forward.
Daily on MACD has just crossed on the negative and that is a bearish signal. However, RSI wants to form a base and go high again, nevertheless, I will not turn bullish until MACD curves back up.
As such, I am bearish on the short term, but on medium to long term I think BNB can go higher and reach $1,000 or more. Right now we're having a break, a healthy break and this may be a good opportunity to long at a more advantageous level.
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As such, I'd expect BNB to re-test the $400 level as support before we can hope for it to pump again as indicated by the green arrow. This is only a possible move forward.
Daily on MACD has just crossed on the negative and that is a bearish signal. However, RSI wants to form a base and go high again, nevertheless, I will not turn bullish until MACD curves back up.
As such, I am bearish on the short term, but on medium to long term I think BNB can go higher and reach $1,000 or more. Right now we're having a break, a healthy break and this may be a good opportunity to long at a more advantageous level.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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