BNB market liquidity declines and the potential weakening of the current price trend. There is still a wave of callbacks!

Figure 1: The current price of the daily line is being played by buyers and sellers. This position is also the turning point of the long and short trends. According to the current volume and the trend of Bitcoin, the callback is highly likely!

Figure 2: The open interest of futures and options fell by 4.90% and 54.68% respectively in the past 24 hours.

The continued negative trend of OI indicates that traders are closing positions, which may lead to a decline in market liquidity and a potential weakening of the current price trend.

In addition, BNB liquidation is not good for long traders. In the past 24 hours, $340,000 was liquidated in the market, of which long positions accounted for $272,210.

This pattern indicates strong selling pressure and negative market sentiment. If it continues, it may further depress BNB prices.

In summary, BNB is still going short. Those who want to enter the market can gradually make arrangements. The current price is 555-560. The target is divided into two batches. The first batch is around 533, and the rest is around 510! #BnbAth