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3.20 Morning BNB Suggestion
BNB is currently still in a bearish trend, with daily highs getting lower and lower, rebounds lacking volume, representing a downtrend continuation with no reversal signals visible.
The overall market is weak, BNB cannot keep up when BTC rebounds, selling pressure is heavy, and capital has been continuously flowing out, with bulls unable to catch the dips.
Technical indicators are all on the bearish side: moving averages in bearish alignment, price being pressed down by the Bollinger Band middle line; MACD below zero level with green bars lengthening, bearish momentum hasn't fully released yet, rebounds are only technical corrections.
Trading Suggestion
Short at rebounds around 645-647, targeting 636-630 on the downside, if broken continue watching 638.
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