Binance Coin Look out for bullish reversal price action
Hi traders:
BNB also caught my eye for the potential up move.
We can see after price initially made the bearish move down, it begin to form a bigger correctional structure.
As we can see price is getting squeeze into this triangle/pennant like structure, with a few swing highs and lows.
What is important here is to determine is is going to be a continuation correction to go lower, or a reversal correction to go higher ?
To me, what I like about the price development is that we are seeing some LTF bullish impulse phase, breaking above the HTF structure.
The last confirmation would be to look for lower time frames bullish continuation correction to confirm the move up, at least to the previous swing highs area.
Thank you
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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.