BNB (BinanceCoin) has broken the small and short uptrend to the downside. The 4H-EMA ribbons could not be breached at the top either.
We are currently trading just below USD 300. Our next stronger support is around $270. The monthly support S3 is also located here as additional support.
It will be important that we can hold exactly these, otherwise we are threatened with a dramatic sell-off to around USD 200 due to the wick
On the daily chart we can clearly see that we are at a critical point. We see that we kept getting into the green box and were heavily bought up.
Furthermore, these wicks were also repeatedly filled with new liquidity, which is why the chances that we really get back to the USD 200 area are increasing.
However, this support must then also hold, otherwise it will be difficult for BNB to get back into this green box - a longer bear market could be imminent.
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