BNB Soars Past Previous Week High as Bitcoin's All-Time High Fuels Bullish Momentum

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.