BNBUSD has been consolidating in an arrow range between $886 and $840 for the past four days. It hits an intraday high of $884.90 and is currently trading around $881.10.
Short-term trend remains bullish as long as support $805 (365 4H EMA) holds. It trades above the 55,200 and 365 EMA on the 4-hour chart. Near-term support is around $860; any close below targets $830/$800/$780/$755/$740/$700/$670/$650/$644/$628/$598. If the pair closes below $500, it potentially leads to further declines towards $400.
Immediate Resistance is at $900.Any breakout above this resistance confirms bullish momentum and a jump towards $943/$1000.
Indicators ( 4-Hour Chart)
Directional Movement Index: Neutral
CCI (50): Bullish
Trading Strategy
It is good to buy on dips around $868-70 with a stop-loss set at $830 and a target price of $1000.
