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January 9 BNB Market Outlook
Four-hour timeframe: The price broke below the middle band of the Bollinger Bands, with a weak rebound. Currently trading below the middle band, the Bollinger Bands' lower support and upper resistance channels are narrowing, indicating a bearish formation.
- MACD indicator: Although DIF and DEA have not formed a death cross, the red histograms are continuously shrinking, indicating that bullish momentum is rapidly weakening, and bears are gradually taking control.
BNB Trading Suggestion: Short near the rebound at 898-906, with a target of 883-870.