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BNB analysis suggestions for October 23.
BNB previously led the mainstream altcoins with a very strong upward trend, repeatedly reaching new highs. However, after hitting new peaks, the buying power has clearly weakened, and the price continues to decline. It is currently oscillating between the lower and middle bands of the Bollinger Bands on the 4-hour chart, with clear resistance from the middle band in the short term. It is expected that there is still room for further decline, and the short-term recommendation is to focus on looking for a pullback.
It is recommended to sell when the price rebounds to around 1095-1100, with a target to look down at around 1050. If it breaks below, continue to look down!
(Aggressive traders can short directly near the current price of 1088)
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