BNBUSD, Triangle, Two Scenarios, Bullish One More Likely!

Hello Traders Investors And Community,

Welcome to my analysis about BNBUSD, in this analysis, I will look at the 12-hour timeframe perspectives. As I recently discovered BNBUSD is trading in a very decisive formational structure in which the price action forms a consolidation period, such formations have the characteristic to show up with a determined heavy volatile breakout either to the up or downside sooner or later when the price-action is ready to complete the formation. Furthermore, I detected two main potential scenarios that are important here, both differ from one another and need to be looked at differently especially when the final validations set place, therefore I discovered all meaningful levels and scenarios we should consider here with BNBUSD.

Structural Developments:
As when looking at my chart here we can watch how BNBUSD now developed this main triangle-formation marked in blue within the structure, it also has this ascending-channel-formation marking the upper range-boundary and the lower range-boundary with the dashed grey trendlines. In the triangle now BNBUSD has the coherent wave-count with the waves A to C almost already completed and now BNBUSD is moving on with the wave D in the structure that is forming with the minor waves directly appointing the upper-boundary of the triangle from where a pullback is likely to emerge which then will be the origin of the wave E that will test the lower boundary of the formation.

Upcoming Perspectives:
Taking all these factors into the consideration now BNBUSD will likely complete the wave-count within the triangle in the upcoming times, after that comes the crucial part because the final confirmation either to the up or downside will settle. As for now the bullish scenario has a higher possibility by 65% and should be expected, this will happen when BNBUSD moves above the upper boundary of the triangle and sets up to continue further bullishly. Otherwise when this does not happen the bearish case can emerge by a 35% possibility this will lead to a wave-E-extension below the lower boundary. However these possibilities can change also again therefore it is necessary to keep patient for the final confirmations, it will be an important development ahead.

In this manner, thank you for watching my analysis about BNBUSD and its current triangle-formation with the likely scenarios that should be expected to emerge in the next times, will be great when you support it with a like and follow or comment, great contentment for everybody supporting, all the best!

Information is only educational and should not be used to take action in the market.