Technical Analysis for BNB/USDT Position:
2024-12-17
Category: None

Current Structure:

The price is consolidating near 719.47 USDT, testing a key horizontal resistance zone around 730.65 USDT.

A clean breakout above this level with a 1-hour confirmation candle would signal a bullish move.



2. Risk-to-Reward Setup:

Entry: Around 730-735 USDT after confirmation.

Target: 835.55 USDT (previous significant resistance).

Stop-Loss: Below 704.35 USDT, aligning with recent lows.



3. Volume & RSI:

Volume remains steady but needs to increase to support a breakout.

RSI is near 50, suggesting neutral momentum with room for upside.




Long Plan:

I will open a long position if I get a 1-hour bullish confirmation candle above 730.65 USDT.

The setup offers a favorable risk-to-reward ratio (targeting ~835 with a stop near 704).


This trade aligns with bullish expectations on the breakout and retest strategy. Patience for the confirmation is key.

