BNB’s current position requires caution. BNB is now near 567u, so opening a position around this level needs to be done carefully. Last October, it reached a high of 1369u. Since then, it has already fallen by nearly 60%. The drop is indeed significant, but falling a lot doesn’t mean you should rush to buy the bottom.

The most critical issue is the 600u level: after it broke below 600u last month, it has never effectively reclaimed that level. Now 600u has turned from support into strong resistance—every time price rebounds up to this area, it gets pushed back down.

In addition, European regulators have recently continued to intensify the matter regarding Binance’s license. This negative factor has kept pressure on BNB’s sentiment, and until it is resolved, it will be difficult to see a large-scale rebound.

People already have plenty of positions going long. Once price breaks below 550u, stop-loss orders will be triggered in a concentrated wave, and that selloff will move very quickly.