BNB/USDT Trade Plan (4H Chart)
Market Overview
BNB/USDT is trading at $693.95, with the 24-hour range between $691.20 and $733.30. The price is consolidating after a drop from $740, showing potential for either a bounce or continuation.
Key Levels
Support: $690, $680
Resistance: $700, $720
Trading Strategy
1. Bullish Rebound:
Entry: Near $690 on bullish confirmation.
Targets: $700, then $720.
Stop-Loss: $685.
2. Bearish Breakdown:
Entry: Below $685 after confirmation.
Targets: $680, then $660.
Stop-Loss: $695.
Risk Management
Use a 1:2 risk-to-reward ratio.
Position sizing: Risk only a small portion of your portfolio.
Conclusion
Watch $690 and $700 closely. Wait for confirmation before entering trades and manage risks wisely.
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