ANALYSIS 🔎
- BNBUSDT is bounded in the ascending channel pattern.
- Price is testing the ascending channel support and 0.618 fibonacci retracement level.
- Price action is printing a pennant consolidation pattern.
- A pennant pattern is a trend continuation pattern, a bullish one in this case.
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the pennant pattern's inclined resistance and previous swing high horizontal resistance level.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Ascending channel resistance.
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending channel support and pennant pattern's inclined support.
- BNBUSDT is bounded in the ascending channel pattern.
- Price is testing the ascending channel support and 0.618 fibonacci retracement level.
- Price action is printing a pennant consolidation pattern.
- A pennant pattern is a trend continuation pattern, a bullish one in this case.
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the pennant pattern's inclined resistance and previous swing high horizontal resistance level.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Ascending channel resistance.
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending channel support and pennant pattern's inclined support.
