Here is a detailed analysis of the BNB/USDT chart with a 1 hour (1h) timeframe.
1. Price Trends
Current price: $709.61, slightly below the 50 EMA ($709.81) and approaching the 200 EMA ($706.74).
Short Term Trend: Bearish as the price previously fell from $721.84 to $702.51. However, there are signs of a potential reversal to the upside as the price is starting to approach the 50 EMA and 200 EMA.
2. Support and Resistance
Main Resistance:
$713.98 (last high).
$721.84 (previous peak).
Strong Support:
$704.89 (level EMA 200).
$695.78 (previous low).
3. Indikator Moving Average
EMA 50 ($709.81): Price is trying to move above this EMA. If successful, it could confirm short-term bullish momentum.
EMA 200 ($706.74): Acts as dynamic support. As long as the price is above the EMA 200, the medium-term trend remains bullish.
4. Volume Trading
Volume is relatively stable with a slight decline. The next price increase requires increased volume to ensure a valid breakout.
5. MACD
DIF (-0.92) is above DEA (-1.39), and a positive histogram is starting to form. This indicates that early bullish momentum is forming.
If the DIF line continues to rise away from the DEA, this will confirm a buy signal.
6. Saran Trading
Bullish Strategy (If Price Goes Up):
1. Entry: Wait for a breakout above $713.98 with high volume confirmation.
2. Target:
Initial target: $721.84.
Further target: $730 (next psychological level).
3. Stop Loss: $704.00 (below EMA 200).
Bearish Strategy (If Price Goes Down):
1. Entry: If price breaks $704.89 with high volume.
2. Target:
Initial target: $695.78.
Further target: $690.00 (next support).
3. Stop Loss: $710.00 (above EMA 50).
Buy on Dip:
If the price drops to around $706.74 (EMA 200) or $704.89 (nearest support), this could be a buying opportunity with a target of $713.98.
Conclusion
Current momentum: Neutral-bullish with early signs of an upward reversal.
Action: Wait for confirmation of a breakout above $713.98 to go long, or take advantage of a correction to the 200 EMA to buy at lower prices.
