BNB Short Setup: Bear Market Start Confirmation?
2025-02-03
Category: None

1) Macro Overview (USDT Dominance):

- We’ve just broken above 4.38% on USDT Dominance, a key resistance level.
- As long as USDT Dominance remains above 4.38%, it suggests a potential start to a broader 
  bear market.
- A drop back below 4.38% and the Yearly Open would invalidate this bearish scenario.
 
2) BNB Technicals:

- BNB’s chart structure looks weak and appears to have topped.
- I’m watching the $600 – $640 zone (confluence with the previous Monthly Low) as a potential 
  area for short entries.
- Overall momentum suggests fading any rallies into that zone.

3) Trade Idea:

- Short BNB on any push between $600 – $640.
- Take profits into the green boxes. 
- Tight risk management is crucial; a strong reclaim above this range could invalidate the short 
  setup.

As always, manage your risk carefully, this is just my personal view, not financial advice. Good luck and happy trading!