CZ may be released early, BNB is expected to break through 620?
Zhao Changpeng is about to be released early. Currently, BNB is close to the recent high. It is recommended to pay attention to the following areas:
615~620: Strong pressure zone. The main force has placed six large orders lasting more than 24 hours here, with a total amount of more than 13.95 million US dollars. If this range is broken, BNB may hit 650.
601~598: Strong support zone. BNB has encountered resistance in this area many times in the past two months, and there is support from EMA24 and EMA52 moving averages in the 45-minute cycle. If it falls below this range, it is necessary to pay attention to 580 (4-hour cycle, main force buy, EMA50 and Fibonacci retracement line).
It is worth noting that in the 45-minute custom cycle, RSI (6) has entered the overbought zone, and the trading volume has weakened during the rise, so it is necessary to be vigilant about the formation of double tops. For long positions, it is recommended to consider entering the market after breaking through the pressure zone or stepping back on the support zone.
Overall, CZ’s release from prison is closely tied to the future of Binance and bodes well for the entire cryptocurrency industry.
