As in my previous analysis, BNX came to the red selling area, lingered a little there, and started to fall. I changed the previous selling zone from red to orange because it hasn't turned into support yet, but it can't be said to be resistance either. It will be understood in time. I entered short from the red area, if there is a short entry at those levels, it can stop a little above the turquoise trend line and wait. Even if they want to take a profit, it can be said that these levels are good.
BNX is not suitable for opening new trades at the moment, it has to decide which direction the price will go.
It may try to enter the orange area again with a slight reaction from the $155 levels, so it is useful to be careful. If it breaks the weak support directly and hits $151-152 levels, I would expect the decline to start now unless there is a positive development for BNX. But instead, there is a possibility of getting a reaction from weak support, so I will not open a new trade. I will wait for a few candles(4h) to close and wait for the levels I want to come.
What I write here serves as a note to myself. Does not include investment advice.
BNX is not suitable for opening new trades at the moment, it has to decide which direction the price will go.
It may try to enter the orange area again with a slight reaction from the $155 levels, so it is useful to be careful. If it breaks the weak support directly and hits $151-152 levels, I would expect the decline to start now unless there is a positive development for BNX. But instead, there is a possibility of getting a reaction from weak support, so I will not open a new trade. I will wait for a few candles(4h) to close and wait for the levels I want to come.
What I write here serves as a note to myself. Does not include investment advice.
