{"id":154473,"date":"2023-09-12T21:25:34","date_gmt":"2023-09-12T15:55:34","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=154473"},"modified":"2023-09-12T21:25:34","modified_gmt":"2023-09-12T15:55:34","slug":"will-bnb-bounce-to-this-level-before-going-short-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/will-bnb-bounce-to-this-level-before-going-short-crypto-news\/","title":{"rendered":"Will BNB bounce to this level before going short? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"single-post-author-top\">\n<p>\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2021\/12\/Akashnath-pfp-80x80.jpeg\" class=\"avatar pp-user-avatar avatar-48 photo \" height=\"48\" width=\"48\" \/><\/p>\n<p>Journalist<\/p>\n<\/p><\/div>\n<p>\t\t\t\t\t\t\t\t<span class=\"mvp-post-date updated\">Posted: September 12, 2023<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span><\/p>\n<\/p><\/div>\n<div>\n<p><i>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/i><\/p>\n<ul>\n<li><em>Binance Coin had a bearish market structure on the 1-day and 4-hour price charts.<\/em><\/li>\n<li><em>Despite seller dominance in the market, a bounce toward $220 was a possibility.<\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/binance+coin\" data-wpel-link=\"internal\">Binance Coin [BNB]<\/a> has a bearish outlook on the price charts after the recent retest of the $205 level as support. This was the second test of the $205 level in the past three weeks.<\/p>\n<hr \/>\n<p style=\"text-align: center\">Read <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/binancecoin-price-prediction\" data-wpel-link=\"internal\">Binance Coin\u2019s [BNB] Price Prediction<\/a> 2023-24<\/p>\n<hr \/>\n<p>The previous one occurred on 22 August and saw Binance Coin bounce higher in search of liquidity. Hence, despite being a lower timeframe structural break, it did not signal a bullish trend in progress. Could the same scenario materialize once more?<\/p>\n<h4>The $220 zone presented an attractive pocket of liquidity<\/h4>\n<div id=\"attachment_343058\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-BNB-price-revised.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-343058\" class=\"size-full wp-image-343058\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"Binance Coin could trap bulls with a liquidity hunt and a price move northward\" width=\"2560\" height=\"1451\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-BNB-price-revised.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-BNB-price-revised-300x170.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-BNB-price-revised-1024x581.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-BNB-price-revised-768x435.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-BNB-price-revised-1536x871.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-BNB-price-revised-2048x1161.png 2048w\" data-lazy-sizes=\"(max-width: 2560px) 100vw, 2560px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-BNB-price-revised.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-343058\" class=\"size-full wp-image-343058\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-BNB-price-revised.png\" alt=\"Binance Coin could trap bulls with a liquidity hunt and a price move northward\" width=\"2560\" height=\"1451\" \/><\/a><\/p>\n<p id=\"caption-attachment-343058\" class=\"wp-caption-text\">Source: BNB\/USDT on TradingView<\/p>\n<\/div>\n<p>At the time of writing, the market structure of Binance Coin was bearish. It has been bearish on the 4-hour chart since 31 August, after a previous higher low was broken. On 29 August, BNB saw a bounce that reached $234.<\/p>\n<p>However, the red box at $225 highlighted an H4 bearish order block, a zone of resistance. BNB was able to climb higher, but unable to establish an uptrend. This suggested a northward liquidity hunt and could repeat in the coming days.<\/p>\n<p>The $220 level has not been tested in September and was a level that previously served as support in June. Hence, it is likely that there are lots of sell orders in this zone. A deviation above $220 to fool enthusiastic bears and catch the early short sellers offside was a possibility.<\/p>\n<p>On the other hand, a move below $205 would be a sign of significant bearish pressure. It would likely be followed by a drop to the next support level at $183.<\/p>\n<h4>The Open Interest chart noted a bearish conviction<\/h4>\n<div id=\"attachment_343053\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-BNB-coinalyze.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-343053\" class=\"size-full wp-image-343053\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"Binance Coin could trap bulls with a liquidity hunt and a price move northward\" width=\"2560\" height=\"1457\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-BNB-coinalyze.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-BNB-coinalyze-300x171.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-BNB-coinalyze-1024x583.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-BNB-coinalyze-768x437.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-BNB-coinalyze-1536x874.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-BNB-coinalyze-2048x1166.png 2048w\" data-lazy-sizes=\"(max-width: 2560px) 100vw, 2560px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-BNB-coinalyze.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-343053\" class=\"size-full wp-image-343053\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-BNB-coinalyze.png\" alt=\"Binance Coin could trap bulls with a liquidity hunt and a price move northward\" width=\"2560\" height=\"1457\" \/><\/a><\/p>\n<p id=\"caption-attachment-343053\" class=\"wp-caption-text\">Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinalyze.net\/binance-coin\/open-interest\/\" data-wpel-link=\"external\">Coinalyze<\/a><\/p>\n<\/div>\n<hr \/>\n<p style=\"text-align: center\">Realistic or not, here\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" data-wpel-link=\"internal\">BNB\u2019s market cap in BTC\u2019s terms<\/a><\/p>\n<hr \/>\n<p>Since 10 September, the Open Interest has been rising. During this time, the price of Binance Coin fell from $214 to $204. Rising OI alongside falling prices indicated short sellers entered the market in large numbers, and was a sign of bearish conviction.<\/p>\n<p>The spot CVD also saw a steep drop on 11 September and reflected heightened selling activity in the spot markets. Together, they showed market participants expect Binance Coin to remain bearish.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Journalist Posted: September 12, 2023 Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. Binance Coin had a bearish market structure on the 1-day and 4-hour price charts. Despite seller dominance in the market, a bounce toward $220 was a possibility. Binance Coin [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":154474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-154473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=154473"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154473\/revisions"}],"predecessor-version":[{"id":154480,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154473\/revisions\/154480"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/154474"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=154473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=154473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=154473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}