Horizontal trend line- $605
BNBUSD was one of the worst performers this week.
Any daily close above $605 confirms further bullishness.
BNBUSD showed a minor sell-off after hitting a multi-week high of $598.80.The pair holds well above the short-term (34 and 55 EMA) and long-term moving average in the 4-hour. It hit a high of $598.8 and is currently trading around $566.10.
The bullish invalidation can happen if the pair closes below $400. On the lower side, the near-term support is $545. Any break below targets $519/$500/$460.
The immediate resistance stands at around $579. Any breach above confirms minor bullishness. A jump to $605/$635/$700 is possible. A surge past $700 will take it to $800/$1000.
Indicators ( 4- hour chart)
Directional movement index - Neutral
CCI (50)- Bearish
CCI(14)- Bearish
It is good to buy on dips around $540 with SL around $500 for TP of $635/$700.
