$BNB Trading Signal
Current Price: $690.86
Entry Zone: $690 - $693
Analysis:
BNB/USDT has shown a sharp correction after testing the $719.99 resistance, forming support near $683. With current consolidation, a potential recovery could test key levels. If the price breaks above $694, it signals strength for an upward move. Failure to hold $683 could lead to further downside.
Trade Setup:
Buy Zone: $690 - $693
Take Profit (TP):
TP1: $708
TP2: $719
TP3: $735
Stop Loss (SL): $679
Risk-Reward Ratio:
Risk: $11 (SL below $679)
Reward: $15 (TP1), $29 (TP2), $45 (TP3)
Strategy:
Short-Term Traders: Exit near TP1 and TP2.
Swing Traders: Hold for TP3 with a trailing stop-loss.
Stay disciplined, and adjust your position size to manage risk effectively.