Technical analysis by MyCryptoParadise_Simon about Symbol BNB: Sell recommendation (10/4/2024)

Yello, Paradisers! Are we about to witness a major #BNB breakdown or a move upward? Let's discuss the latest analysis of #BinanceCoin: 💎#BNBUSDT has been showing clear signs of weakening bullish sentiment, much like Bitcoin. Recently, we observed a failed breakout from a key resistance zone, further strengthening the bearish outlook. Now, as #BinanceCoin approaches this major resistance again, there’s a real possibility it could fail to break through once more.💎The diminishing trading volume and the Point of Control (POC) from the VRVP indicator acting as resistance increase the chances of a further drop. If #BNB fails to break the crucial resistance zone between $610-$637, it’s highly likely we will see a retest of the Bullish Order Block (OB) at $471.6.💎However, should #BNB fail to hold at $471.6, the next major support zone to watch is at $387. This area is rich in liquidity and could create a strong opportunity for a pullback if tested.💎On the flip side, if the symmetrical triangle’s lower support holds up well, we could see the bulls regaining control, potentially sparking a bullish rally. Keep in mind that the overall market sentiment, along with Bitcoin’s price movements, will play a key role in determining #BNB’s next move.If you want to be consistently profitable, you need to be extremely patient and always wait for high-probability trading opportunities.MyCryptoParadiseiFeel the success🌴