BNB, In A Possible Flag-Formation, Significant Perspectives!

Hi,

Welcome to this analysis about BNB, we are looking at the 2-hour timeframe perspectives. BNB since showing heavy bearish breakdowns to the downside has formed some initial recoveries however these arent yet very strong. Besides that BNB has developed this main ascending-channel-formation with the coherent wave-count within and the waves A and B already completed. While BNB is forming now the main wave C in the structure it is important that it sustainably holds the lower boundary and bounces from there otherwise when this does not happen and BNB closes below this will lead to a bearish continuation and development to the downside. However, when BNB bounces to complete the wave count it will run directly into the upper-resistance and the major resistance-cluster lying there from where a pullback is highly likely and should be expected. The crucial price-actions will come after it with BNB either staying within the channel or confirming it as a bear flag which is not unlikely in this case.

In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
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