Hi guys!
BNB is currently showing strong bullish structural shifts. After carving out a solid Inverse Head and Shoulders bottom, price action successfully broke above the triangle pattern. However, we aren't quite in "clear skies" territory yet.
The Setup
While the initial breakout is encouraging, BNB is currently hitting a wall at a critical supply zone. To confirm a sustained move, we need to see a decisive break above the $632.50 resistance level.
The Strategy
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Bottom Line: The foundation is there, but patience is key. Let the market prove it can hold above $632.50 before committing to the long.
BNB is currently showing strong bullish structural shifts. After carving out a solid Inverse Head and Shoulders bottom, price action successfully broke above the triangle pattern. However, we aren't quite in "clear skies" territory yet.
The Setup
While the initial breakout is encouraging, BNB is currently hitting a wall at a critical supply zone. To confirm a sustained move, we need to see a decisive break above the $632.50 resistance level.
The Strategy
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- ]Entry Trigger: Wait for a clean daily close above $632.50.
- Execution: Look for a long position on the retest of that level (flipping old resistance into new support).
- Primary Targets: * T1: $660.00
- T2: $672.00 (Pattern Profit Target)
Bottom Line: The foundation is there, but patience is key. Let the market prove it can hold above $632.50 before committing to the long.
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Forex channel: t.me/melikatrader94GoldForex
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
AVATrade Ambassador Join & explore:
avatrade.com/trading-account?p=Webtrader&tag=220256
-----------------
Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
avatrade.com/trading-account?p=Webtrader&tag=220256
-----------------
Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
