Today we will take a look at $BNB
Since December 20, BNB has experienced a strong rebound after a pullback, with prices adjusting again after reaching previous high resistance levels. However, there has been no significant increase in selling pressure, indicating that this is a signal of a pullback to build strength rather than a major decline.
The recent rise has broken through previous highs, and the pullback has not broken previous lows, showing that bulls still have the upper hand. The candlestick at 4 a.m. today found support at the densely traded area, and although subsequent candlesticks had upper shadows, the lows have gradually risen, and the long lower shadows indicate strong support below.
In summary, BNB has stopped falling at the support level, and overall bullish strength is greater than bearish strength, with the four-hour trend still upward. We can expect a new wave of increases, making this a good short-term entry point. However, short-term trading should be done with a clear take-profit and stop-loss strategy to avoid getting caught due to greed, and the key is to improve the utilization of funds.