The price of BNB has gone up a lot from the low of 587. Is now trading above 610. This shows that BNB is recovering well. The funding is still neutral which means it is not going up or down much. The open interest is around 310 million USDT, which means a lot of people are trading BNB without trying to push the price in one direction. Long as the price of BNB stays above 580 the overall trend, for BNB is still good.
Trade Plan – Swing Long
Entry Zone: 600 – 608
Stop Loss: 565
Targets:
• 650
• 690
• 740
• Extended: 800
Leverage: 3x–5x conservative
Risk–Reward: Around 1:3+ toward the primary target
Setup Logic
The area around 590 to 600 has always been a place where people want to buy. The fact that the price went up a bit and then came back down to, around 587 makes me think that the price will keep going up. If the price can stay above 620 I think it will start to go up fast and could even reach 650 or more.
Something big happens when the market closes below 565 every day. This would make the market structure a lot weaker. That would change the momentum to short-term bearish for the market. The market structure would be weak. The momentum would be short-term bearish, for the market.
This is a patience-based swing setup. Proper risk management and disciplined execution are essential.
