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parissap
May 12, 2022 9:48 AM

BNB ab=cd pattern to $100 

Binance Coin / TetherUS PERPETUAL CONTRACTBinance

Description

#BNB/USDT
BNB AB=CD pattern shows downtrend can be end around $100

🐻price is below middle line of weekly descending channel, but still the weekly candle is open.
so close below middle line will drop price more to touch lower line around 2.618 fib level to complete ab=cd pattern.

🐮 if weekly candle going to close above middle line price can head up to break out the upper line of channel and ab=cd pattern will be invalid.
Comments
BlackBirdTrading
Agree from idea, but BNBUSDT found its capitulation line which is marked as resistance on my idea. You can have a look too.
parissap
@BlackBirdTrading, love it thanks for sharing
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