Is this BNB sell-off a shakeout or a real drop?
$BNB /USDT - SHORT
Trading Plan:
Entry: 704.0 – 706.4
SL: 716.3
TP1: 696.9
TP2: 691.3
TP3: 683.0
Why pay attention to this setup?
- The 4-hour bearish signal has been triggered, with an entry reference of 705.2, a stop-loss at 716.3, and a risk-reward ratio close to 1:2.
- RSI (15-minute) is at 42.75, indicating weak momentum and a lack of strength in the short-term rebound.
- The 1D trend remains range-bound, but the current price is near the upper end of the range, giving the bears room to test TP1 (696.9) and even TP2 (691.3).
- Why now?