BNBUSD, Triangle-Breakout Emerged, Upcoming Perspectives!
Welcome to this analysis about BNBUSD, we are looking at the 3-hour timeframe perspective. BNBUSD as I discovered in recent times has shown up with some very important decisive price-actions in the structure and therefore completed a formation that has good potential to show up further volatilities and likely determinations. Therefore it is necessary to keep patient and do not rush into set conclusions on either one or the other direction to overspeculate the market into this one direction. In this manner, I discovered all the important levels and likely destinies we should consider with the structure BNBUSD is forming here and the upcoming movements ahead of the next times.
As when looking at my chart now we can watch there how BNBUSD firstly formed this main ascending-triangle-formation in the structure with the coherent wave-count within and the waves A to E already completed, recently BNBUSD has shown up with the breakout above the upper boundary that is referring to the wave-E-extension which BNBUSD is setting up and will continue with it in the next times. Also, an important factor here is that BNBUSD is staying above the 160-EMA in red as well as the 200-EMA in green, these EMAs are matching with the upper-boundary of the triangle-formation and therefore building a solid support-reference-base in this zone.
Taking all these factors into the consideration now it should be considered that BNBUSD actually formed a strong breakout and upcoming continuation-formation here. Especially when BNBUSD stays above the suggested levels and stabilizes further this will lead to the continuation and approach of the upper target-zone marked in blue in my chart at the 360.5 level, when BNBUSD reaches out in this zone it has to be elevated if there follows a continuation or BNBUSD firstly sets up with a pullback which will not be unlikely in this case as there is a strong resistance still lying in this structure and such a pullback is normally seen after a determined wave-count.
Therefore, thank you for watching my analysis about BNBUSD and the main triangle-breakout-structure developing here with the likely determinations upcoming, will be great when you support it with a like and follow or comment, great contentment for everybody supporting, all the best!
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Information provided is only educational and should not be used to take action in the markets.