BNB/USD breaks previous week high as Bitcoin hits fresh all-time high. It hits an intraday high of $698.80 and is currently trading around $698.20.
Short-term trend remains bullish as long as the support $598 holds. It trades above the 55 and 34, 200 and 365 EMA on the 4-hour chart. Near-term support is around $670; any close below targets $ 650, $644, $628, $598, $570, and $520. If the pair closes below $500, it will potentially lead to further declines towards $400.
Immediate Resistance is at $700.Any breakout above this resistance confirms bullish momentum and a jump towards $730/$800/$1000.
Indicators (4-hour Chart)
Directional Movement Index: Bullish
CCI (50): Bullish
Trading Strategy
It is good to buy on dips around $680 with a stop-loss set at $650 and a target price of $800/$1000.
