Evening of 12.4

The current BNB candlestick pattern is a consolidation after a surge and pullback. On the 1-hour chart, there was a surge with high volume followed by a pullback on lower volume. Previously, the price quickly rose from 888.42 to the intraday high of 928.88, then retraced with small bearish and bullish candles on decreasing volume, indicating profit-taking after the rise and a period of range-bound volatility. Recently, candlesticks have been fluctuating between the 910-915 range, without any significant breakout, and overall are in a consolidation phase within an uptrend.

Currently, BNB is near the middle Bollinger Band at 912.85, with the middle band sloping upwards, indicating a short-term bullish bias. The upper band at 925.40 is the current resistance, while the lower band at 900.31 is the key support. The KDJ indicator’s three lines are in the oversold zone, suggesting insufficient downside momentum and a potential rebound. The MACD indicator shows the DIF below the DEA, with the MACD histogram negative but narrowing, indicating a weak equilibrium between bulls and bears; after consolidation, a rebound above the middle band is possible.

The short-term trend is consolidation with a bullish bias. If the 912.85 support holds, there is a high probability of a rebound to test the 925.40 resistance; if 912.85 is breached, the price may retest support near 900.31. In the short term, it is suggested to consider light positions if the price rebounds to the 920-935 area, and the target can be set near the 895-880 area.

The above is my personal opinion for reference only. Please follow Haoyu Shipan's strategy for specifics. $BNB ‌#BNB