Intraday bias - Bullish
Re-test level- $600
Any close above $605 confirms a bullish continuation.
BNBUSD breaks psychological resistance $600 after a long consolidation. It hits a high of $614.80 and is currently trading around $600.50.
The pair holds above 34 and 55 EMA in the 4-hour chart. The bullish trend continuation can happen if the pair closes above $600 in the daily chart. On the lower side, the near-term support is $590. Any break below targets $575/$560/$540/$525 (200-day EMA) $490/$470/$456 (127.2% fib)/$437 (1.618% fib)/$403 is possible.
The immediate resistance stands at around $615. Any breach above confirms minor bullishness. A jump to $647/$700 is possible. A surge past $725 will take it to $800.
Indicators ( Daily chart)
Directional movement index - Bullish
CCI (50)- Bullish
CCI(14)- Bullish
It is good to buy on dips around $590 with SL around $560 for TP of $700.
