Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

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BNB

Market context & macro factors

Following the recent Fed meeting, macro resistance remains strong, and liquidity conditions are still unfavourable. Our stance hasn't changed. BNB remains a prime short setup due to its relative strength and high risk-to-reward downside potential.

While short-term bounces may occur, the broader market remains under pressure, and we remain focused on shorting into key resistance levels rather than chasing the upside.

Technical analysis & trade strategy:

• BNB is currently trading at $625, making this a local resistance zone for now.
• Local support sits at $600, a key level that has held recent price action.
• Key resistance at $650, where price has previously struggled-this is the first level where we expect strong selling pressure.
• The second resistance is at $680, an area of prior supply where the rice was rejected in the past.
• The third resistance at $710, a higher liquidity zone where the price previously failed to sustain the upside.
• RSI is currently at 55, leaving room to push higher before hitting overbought conditions.
• On February 3rd, RSI peaked at 66 when BNB hit $730, confirming historical rejection levels. A similar move would reinforce our short thesis.
• If RSI moves to 60-65, it would signal exhaustion, increasing the probability of a reversal.
• Volume remains low, suggesting that any move higher is likely liquidity-driven rather than a true breakout.
• A break below $600 would indicate weakness, leading to a retest of lower support levels.
• A break below $500 would confirm a larger structural breakdown, opening the door for deeper downside momentum.
• If $500 fails, the price could see further downside pressure toward $450 - $430, where historical demand exists

Trade plan:

• The first short entry is at $650, where initial selling pressure is expected.
• The second short entry is at $680, stacking into strength as the price moves higher.
• The third and final short entry is at $710, and the short position stack is completed.
• Stop loss at $755, ensuring protection against deviation and excessive upside movement.
• Primary downside target at $500, aligning with strong liquidity and prior swing lows
• If the price fails to rally and breaks $600, shorts can be entered on a retest of $600 as resistance, targeting $550 - $500.
• A break below $500 strengthens the bearish case, increasing the likelihood of a move to $450 - $430.
• If invalidated at $755, we will reassess price action and potentially re-enter shorts higher at $780 - $800 if momentum extends further
• Patience remains key are waiting for the price to hit key resistance levels before executing shorts, rather than forcing an early entry.

• Next Support: $600
• Next Resistance: $650
• Direction: Neutral
• Upside Target: $680
• Downside Target: $440

Cryptonary's take:

BNB's price action remains almost identical to last week, reinforcing our high-probability short setup. As the market climbs into $650, $680, and $710, this trade provides an opportunity to capture upside moves while maintaining strong positioning for the next leg down.

The Fed's stance continues to suppress risk assets, and if BNB pushes higher, it only further validates our bearish outlook. Patience is key to waiting for the price to reach our levels before executing, ensuring we're positioned for maximum risk-to-reward efficiency.