I watched the market data of #数字资产市场观察 for a while this afternoon, and to be honest, the trend looks quite bad.

Let me first express the most intuitive feeling: the 900 position has completely changed its face. It was previously a support level, but now it has directly become a ceiling, with sell orders piled up above that make your scalp tingle. If you look at the 1-hour candlestick chart, you'll know that when it recently surged to 900, there was simply no one to take the orders; it was pushed up only to be smashed down again, leaving the bulls without any strength to fight back.

There's no need to mention the technical indicators. Both MACD and RSI are indicating a downturn, and the 4-hour level has already seen two consecutive drops. Such continued sell-offs are the most confidence-draining. Additionally, with the entire market's liquidity tightening, given the current environment, it's unrealistic for BNB to turn around against the trend in the short term.

My thought is this: wait for it to bounce back to the range of 830 to 840, and then consider shorting, with targets around 800 and 790. However, there is a risk point that must be noted—800 is a round number, a psychological price level. Once it is breached, it could easily trigger a chain reaction of stop losses, and at that time the decline may exceed expectations.

So don't rush in your actions, wait until the position is right before making a move. In this kind of weak market, patience is more important than anything else. $BTC