Current Trend Analysis:
4-Hour Chart: There’s a strong upward momentum, with price breaking above the moving averages (50, 100, and 200 MA). The recent high at 621 indicates a breakout, which suggests bullish sentiment.
1-Hour Chart: Price has crossed above all major moving averages with significant upward momentum. The moving averages are aligned in a bullish order (50 > 100 > 200), supporting an uptrend.
15-Minute Chart: There’s a breakout above the 621 level with a strong bullish candle, indicating potential continuation of the upward trend.
Key Support and Resistance Levels:
Support:
Near 596 (previous resistance turned support on lower timeframes).
Stronger support around 575 on the 4-hour chart, aligning with the 200 MA.
Resistance:
Immediate resistance around 621, which the price recently broke. If retested, this level could act as a support.
Psychological level of 625 may also act as a short-term resistance.
Chart Patterns:
Breakout Pattern: The recent breakout across all timeframes suggests a bullish continuation. The strong upward movement and break of key resistance levels indicate a potential trend reversal or bullish continuation setup.
Retest Possibility: A pullback to retest the 621 or 596 levels would confirm the breakout as a new support, offering a high-probability entry.
Intraday Strategy (15-Minute and 1-Hour Confluences):
1. Entry: Look for a pullback to the 621 level on the 15-minute chart. This aligns with the recent breakout and could act as new support.
2. Stop Loss: Place a stop loss below 596 to manage risk if the pullback fails.
3. Target: Initial targets can be set near 625 (psychological level) and 630 for intraday positions, taking advantage of the short-term bullish momentum.
4. Confirmation: If price consolidates around 621 and shows bullish candlestick patterns like a hammer or bullish engulfing, it would provide additional confirmation for a long entry.
Swing Position Strategy (1-Hour and 4-Hour Confluences):
1. Entry: Wait for a pullback on the 4-hour chart to around the 596–600 range. This would provide a higher probability entry with better risk-to-reward, as it’s closer to strong support levels.
2. Stop Loss: Place a stop below 575, where the 200 MA on the 4-hour chart provides additional support, to minimize losses in case of a deeper retracement.
3. Target:
Short-Term Target: Around 630–635 for initial profit-taking.
Long-Term Target: Potentially around 650 or higher if bullish momentum sustains.
4. Confirmation: Look for bullish continuation signals on the 1-hour or 4-hour chart, like sustained buying pressure or bullish candlesticks around the support level.
Conclusion:
Intraday: A pullback to 621 on the 15-minute chart provides a good entry for quick gains if the price holds this level.
Swing Position: A deeper pullback to the 596–600 level offers a high-probability entry for a more extended position, leveraging the support from higher timeframes.
Note: Ensure confluence across timeframes and watch for volume confirmation during breakouts or pullbacks to validate entries.
This strategy allows for both quick gains intraday and a higher reward with a swing approach, benefiting from BNB’s current bullish trend across multiple timeframes.
