BNB/USDT: Bullish Breakout from H&S and Pennant Formation

13 hours ago

Hi guys!

The chart clearly shows a bullish structure forming after a strong upward move. Initially, the price completed an Inverse Head and Shoulders pattern, signaling a potential trend reversal from bearish to bullish. After the breakout above the neckline, the market continued to climb and started consolidating into a bullish pennant pattern, a continuation setup that typically follows a sharp rally (flagpole).

The pennant breakout confirms renewed bullish momentum, suggesting the next leg higher is underway. Based on the flagpole projection, the measured targets are around $1,282 for the first resistance zone and $1,362 as the extended upside target.

In summary:

• Patterns identified: Inverse Head and Shoulders + Bullish Pennant
  
• Trend direction: Bullish continuation
  
• Targets: $1,282 and $1,362
  
• Outlook: Positive as long as price holds above the pennant breakout level
  

2 hours ago

Trade active

2 hours ago

Trade closed: target reached

the first target has been touched