$BNB

/USDT Technical Analysis & Trade Strategy🎯

Current Price: $653.17

Indicators:

Bollinger Bands (20, 2): Upper Band: $654.35, Lower Band: $631.29

Parabolic SAR: $632.76

24h High: $660.88

24h Low: $622.85

Trade Strategy & Setup:

Bullish Scenario (Price continues upwards):

Target 1 🎯: $660.88 (24h High) — A reasonable resistance level where profit-taking could occur.

Target 2 🎯: $675.00 — A potential next resistance zone based on past price movements and market sentiment.

Target 3 🎯: $690.00 — Further resistance level, driven by psychological price points and technical patterns.

Bearish Scenario (Price breaks support):

Support Level: $632.76 (Parabolic SAR) — This level will act as the key support zone. If the price breaks below this, a bearish trend could develop.

Target 1 🎯: $631.29 (Lower Bollinger Band) — A possible first downside target.

Target 2 🎯: $622.85 (24h Low) — If the price continues downward, this is the next support level.

Target 3 🎯: $610.00 — A deeper retracement level, based on past price corrections.

Trade Setup:

1. Entry:

For a long position: Enter if the price breaks above $654.35 (upper Bollinger Band) and shows signs of continuation, or if the price bounces off $632.76 (Parabolic SAR) to confirm support.

For a short position: Enter if the price drops below $632.76, especially if it breaks the Parabolic SAR level with strong volume.

2. Stop-Loss:

For long trades: Place the stop-loss just below the Parabolic SAR level ($632.76) to limit potential downside risk.

For short trades: Place the stop-loss above the upper Bollinger Band ($654.35) or slightly higher.

3. Take-Profit:

Set take-profit orders at $660.88, $675, and $690 for a long position.

Set take-profit orders at $631.29, $622.85, and $610 for a short position.

Risk Management:

Only risk 1-2% of your portfolio per trade.

Use proper position sizing based on your risk tolerance.

Summary

Bullish Scenario: Watch for price action above $654.35 (upper Bollinger Band). Targets: $660.88, $675, and $690.