BNB Breakout is expected in coming weeks
BNB is in tight zone. We may expect a breakout in coming weeks.
Reasons:
1. Two Greens candle can be seen at end of triangular wedge, making higher high which is an indication for bullish movement.
2. Candles respecting the wedge upper line which is resistance. It may going to test the support and after that it is going to breakout of the wedge in a strong upward movement.
3. Engulfing Green Candle at the end of the wedge has also broken the White Trend line resistance which was tested 2 times before. Now Retrace is a normal process. It is going to test the support at 16626 and if it is rejected then a strong breakout is ON.
Be ready for every kind of situation.
I have tried to analyze it for you so that you can make your decisions accordingly.
Thanks.
Reasons:
1. Two Greens candle can be seen at end of triangular wedge, making higher high which is an indication for bullish movement.
2. Candles respecting the wedge upper line which is resistance. It may going to test the support and after that it is going to breakout of the wedge in a strong upward movement.
3. Engulfing Green Candle at the end of the wedge has also broken the White Trend line resistance which was tested 2 times before. Now Retrace is a normal process. It is going to test the support at 16626 and if it is rejected then a strong breakout is ON.
Be ready for every kind of situation.
I have tried to analyze it for you so that you can make your decisions accordingly.
Thanks.
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