BNB - 6h. Another test $585-600 and an increase of 20%

13 May 2021

The fall in the price of BTC overnight made BNB investors a little worried. For a while, sellers were able to feel strong and broke through the range of $585-600. However, their initiative ended too quickly. As a result, both Bitcoin and BNB fell by 20%.

The triggering of the buyer's stop orders did not help the sellers to impose their struggle. If we look at the 15 minute timeframe, we see that after a sharp wave of falling enthusiasm, there are no sellers left:

As we can see from the trading volumes, when the price approached the range of $585-600, the trading volumes increased. After a false breakout of this liquid zone, a new wave of decline began at minimum volumes. These facts indicate that large buyers gained their positions on this fall.

If you look at the 12 hour timeframe, you get the impression that nothing happened on the BNBUSDT market:

A small false breakout of the range of the previous historical high and a test of the middle line of the white growth channel - that's all that happened in a few hours.

A retest of the range of $585-600 at low volumes will allow you to buy this coin with the first target in the range of $720-750.

An alternative scenario will come into play if sellers manage to push the price below $ 585-600. In this case, a deeper correction in the BNB market should be expected with an ultimate target of $410-430.
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