BNB/USDT Keep an eye on Bullish Flag, Break or rejected ??
Updated
💎 BNB has recently experienced significant developments in the market. It is currently exhibiting a Bullish flag pattern, which is considered a bullish continuation pattern.
💎 If BNB successfully breaks out of this pattern, there is a probability of a continued upward movement in price, with the potential to reach our target strong resistance area.
💎 However, if BNB fails to break out of the pattern, there is potential for the price to decline and return to retest the support area to establish new momentum. In a more bearish scenario, BNB could even drop back to the demand area around 266.
💎 The demand area is critical and would require a bounce to support the continuation of the upward movement. If BNB remains in a sideways trend with weak volume, this could be a concerning sign, as it may lead to a loss of demand or a breakdown of the area.
💎 In such a scenario, BNB would revert to a downward movement, and the support trendline would also be breached, potentially taking the price back to the strong support area.
💎 If BNB successfully breaks out of this pattern, there is a probability of a continued upward movement in price, with the potential to reach our target strong resistance area.
💎 However, if BNB fails to break out of the pattern, there is potential for the price to decline and return to retest the support area to establish new momentum. In a more bearish scenario, BNB could even drop back to the demand area around 266.
💎 The demand area is critical and would require a bounce to support the continuation of the upward movement. If BNB remains in a sideways trend with weak volume, this could be a concerning sign, as it may lead to a loss of demand or a breakdown of the area.
💎 In such a scenario, BNB would revert to a downward movement, and the support trendline would also be breached, potentially taking the price back to the strong support area.
Trade closed: target reached
Just as predicted, #BNB's up a smooth 42.72%!
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