BNB rebounds at 0.618 Fibonacci; relief bounce targets $950
BNB (BNB) found support at the 0.618 Fibonacci retracement after a liquidity sweep cleared recent lows. Buyers stepped in and a bullish engulfing candle printed on the 4-hour chart, signaling short-term demand and the possibility of a relief bounce. If BNB holds above the 0.618 Fib zone and gains volume confirmation, the likely upside target is around $950, aligned with prior supply. Failure to defend this level would invalidate a higher-low structure and reopen downside risk. Key trading points: 0.618 Fibonacci support respected, bullish engulfing candle indicates buyer strength, $950 as the primary resistance target, and volume/acceptance above the Fib level will determine follow-through.
Bullish
The article points to technical signs that favor a short-term bullish outcome: a decisive reaction at the 0.618 Fibonacci retracement, a bullish engulfing candle on the 4-hour chart, and a liquidity sweep followed by conviction buying. Historically, sweeps of stop liquidity below recent lows that reverse with strong candles often mark short-term bottoms or higher-low formation during corrections (seen in prior BNB and other altcoin rebounds). The scenario remains conditional — volume and consecutive closes above the Fib zone are required to validate follow-through. Short-term impact: increases probability of a relief rally toward $950, creating trading opportunities for momentum and swing traders (longs with tight stops below the Fib). Long-term impact: neutral-to-positive only if acceptance above resistance and sustained volume occur; otherwise the move may fade and reopen downside risk. Risk management should focus on the 0.618 level as a pivot—loss of that support would change the bias to bearish.