7.6 Monday BNB Morning Thoughts

The easing expectations dividend brought by the non-farm payrolls has been largely digested. Today, the U.S. dollar and U.S. bond yields rebounded simultaneously, and the overall crypto market risk appetite has declined. BNB is under pressure along with the broader market, with weaker elasticity than Bitcoin. It only relies on platform ecosystem support for slight resilience, lacking independent upward momentum.

Technically, short-term strong resistance is concentrated in the 585-595 USD range. Multiple intraday rallies have encountered concentrated selling pressure here, with accumulated previous trapped positions. Without volume-driven buying, a breakout is difficult. The medium-term resistance is the psychological level of 600 USD, which is the previous consolidation center, limiting upside space. Short-term defensive support is at 566-568 USD, and 550 USD is the key level for the strength of this rebound. Once effectively broken, the short-term repair rally will end, and the next support is seen in the 540 USD range. On the indicators, the 4-hour bullish momentum continues to weaken. The RSI has turned downward from highs, the MACD red bars are narrowing, and the price is trading below the medium and long-term moving averages. The bearish structure on the larger time frame remains intact.

Operation suggestion: go short at 590-595, target 585, if broken, see 580$BTC $ETH $SOL