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Intraday bias - Bullish
Re-test level- $562
Any close above $620 confirms a bullish continuation.
BNBUSD pared some of its gains after a surge of more than $150. The pair formed a double top around $618 and showed a minor profit booking.
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 the daily chart. On the lower side, the near-term support is $570. Any break below targets $562/$554/$540 is possible.
The immediate resistance stands at around $620. Any breach above confirms minor bullishness. A jump to $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 $562 with SL around $528 for TP of $700.
