Well, it may not be but betting on dead cat bounces is risky stuff.
Also, it seems likely there is a far buy of jiggery pockery. Eg, there were no orders to buy at .265, then 1 and suddenly 4, three of which were for 16, 78 and 43 shares - ie a negligible number but gives the appearance of stronger buyer support. Then a block of 300,000 immediately moved from 26 to 26.5 - it seems to have managed to stay at least 1 buyer away and .5 lower than necessary to buy. In short, I think the apparent support is fictional.
I have sold at a loss and may buy back when this becomes less volatile.
BNB Price at posting:
26.0¢ Sentiment: None Disclosure: Not Held
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