BNBUSD showed a minor false breakdown below 55-4H EMA and recovered once again above $850 level. It hit a high of $869.30 and is currently trading around $838.60.
Short-term trend remains bullish as long as support $745(365-4H EMA) holds. It trades above the 55 and 34, below 200 and 365 EMA on the 4-hour chart. Near-term support is around $800; any close below targets $780/$755/$730/$700/$670/$650/$644/$628/$598. If the pair closes below $500, it potentially leads to further declines towards $400.
Immediate Resistance is at $870.Any breakout above this resistance confirms bullish momentum and a jump towards $900/$1000.
Indicators ( 4-hour Chart)
Directional Movement Index: Bullish
CCI (50): Bullish
Trading Strategy
It is good to buy on dips around $800 with a stop-loss set at $740 and a target price of $1000.
