I would rather look for long than short on BNB.i was not able to cought BNB short. I was stopped out. My idea was to counter trade the trend, to at least take my short to a discount zone.
The price action we see today was influenced by the announcement that the Binance chain has been exploited, which we as technical analyst know where the price will probably reverse.
The reason for this dump is the sell stops which has been put below the short term low being triggered, therefore, the market was flooded with sell orders.
This dump will surely short live.
I will be looking for an entry around 282 and my sl will be around 278. if I got stopped out I will looking at the 270 or 268 for possible reentry.
The price action we see today was influenced by the announcement that the Binance chain has been exploited, which we as technical analyst know where the price will probably reverse.
The reason for this dump is the sell stops which has been put below the short term low being triggered, therefore, the market was flooded with sell orders.
This dump will surely short live.
I will be looking for an entry around 282 and my sl will be around 278. if I got stopped out I will looking at the 270 or 268 for possible reentry.
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