BNB market analysis and operation suggestions
BNB has recently become more popular. It has not received much attention before, but it rose sharply by about 180 points from December 3 to 4. The strength of the long army is extremely strong, which has dealt a heavy blow to the short army. Many people still insist on shorting or increasing their positions, which may be in line with the intention of the dealer.
From yesterday to now, BNB has experienced a short correction. In my opinion, this is a little "sweetness" given by the dealer to the short army, making them forget the previous blow.
The current 4-hour line is in a downward trend, with support at 690. Although there is pressure above, it is not critical given its potential to hit 1000. From the perspective of Fibonacci retracement, the oscillation area is between 713 and 741, and the short-term trend is still acceptable. Most retail investors view the trend line through their mobile phones, and their vision is limited.
Considering that it once rose by nearly 200 points in one day, it is normal to have a slight correction now. This coin should not be far from breaking through 1000. It reached a high of 790 yesterday, only 210 points away from 1000.
The dealer stopped the pull at this time, most likely to further absorb the air force chips.
When the market broke through 100,000 points today, it did not rise but fell, and there may be a deep meaning behind it.
Operation suggestion: Go long in the range of 700-710, and the stop profit and stop loss can be flexibly set according to the scale of your own funds, and prepare to enter the market.
