BNB/USDT (1H Chart) just tapped a high-interest supply zone between $610 - $616, showing signs of temporary exhaustion after a strong bullish breakout above the $597 resistance level. This zone previously rejected price twice and could offer either a pullback opportunity or a potential short setup.
Key Technicals:
Supply Zone: $610–$616 (highlighted in blue)
Fresh Breakout: Price broke cleanly above $597.64, turning it into immediate support
Previous Range: Consolidation between $579.60 and $597.64
Demand Zone: $570–$580 marked in orange (high confluence zone for buyers)
Scenarios to Watch:
1. Bearish Rejection: If price fails to close above $616 on the 1H or 4H, we could see a retest of $597 or even $579.
2. Bullish Breakout: A solid close above $616 with volume may send BNB toward $630+, potentially starting a new leg up.
My Game Plan:
Watching for rejection candles (e.g., pin bars or bearish engulfing) within the $610–$616 range
Target for short: $597 and then $579
Break & close above $616: I'll look for bullish continuation entries
Trade Smart, Use SLs.
Let me know your view on this level – is BNB ready to fly or due for a pullback?
Key Technicals:
Supply Zone: $610–$616 (highlighted in blue)
Fresh Breakout: Price broke cleanly above $597.64, turning it into immediate support
Previous Range: Consolidation between $579.60 and $597.64
Demand Zone: $570–$580 marked in orange (high confluence zone for buyers)
Scenarios to Watch:
1. Bearish Rejection: If price fails to close above $616 on the 1H or 4H, we could see a retest of $597 or even $579.
2. Bullish Breakout: A solid close above $616 with volume may send BNB toward $630+, potentially starting a new leg up.
My Game Plan:
Watching for rejection candles (e.g., pin bars or bearish engulfing) within the $610–$616 range
Target for short: $597 and then $579
Break & close above $616: I'll look for bullish continuation entries
Trade Smart, Use SLs.
Let me know your view on this level – is BNB ready to fly or due for a pullback?
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✅ICMARKETS frankfxx.com/icmarkets
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✅ AUTOMATED BOT: bot.frankfxx.com/
✅ICMARKETS frankfxx.com/icmarkets
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✅ XM frankfxx.com/xm
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.