#BounceBit 🤦 | mugiwarartx di Binance Square

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#BounceBit  🤦

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#MarketBuyOrHold? Looking at the recent price action of the BNB/USDT pair, the market structure appears bullish, with a consistent trend of higher highs and higher lows, indicating upward momentum. Currently, BNB is consolidating near a support level under its all-time highs, which often signals a period of accumulation before a potential upward move. The daily chart suggests that BNB could continue to grind upwards unless the price closes below the recent higher low of around $511. On a weekly scale, BNB is testing a critical supply zone, and breaking above this could potentially target new highs, with the first significant target around $875, based on Fibonacci projections. Despite the overall positive outlook, BNB’s performance is also tied to Bitcoin's movements. If Bitcoin experiences a downtrend, BNB may follow suit. Traders should be cautious and look for confirmation that the support levels hold, and consider waiting for a breakout above the supply zone for more confidence in entering long positions. $BNB

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Buy high sell low😂 $USUAL

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