Intraday bias - Bullish
Trend reversal level- $528 (200- day EMA)
Any close above $620 confirms a bullish continuation.
BNBUSD took support near the trend line and showed a minor pullback. It hits a low of $534.70 and is currently trading around $553.
The pair holds below 34 and 55 EMA in the 4-hour chart. The bullish trend continuation can happen if the pair closes above $615 in daily chart. On the lower side, the near-term support is $528. Any break below targets $500/$470 is possible.
The immediate resistance stands at around $553. Any breach above confirms minor bullishness. A jump to $562/$570/$605/$620/$647/$700 is possible. A surge past $725 will take it to $800.
Indicators ( 4- hour chart)
Directional movement index - Bearish
CCI (50)- Bearish
It is good to buy on dips around $535 with SL around $500 for TP of $700.
