BNBUSDT is heading a potential downward leg to complete iv-wave of this channel. On the 4H chart we can see a strong bearish correlation between the price action and Chaikin Money Flow bearish divergence, in which we have a c-wave failure case. The next demand zone is confluent with the Fibonacci retracement projection.
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Potential scenario in case of price action sustains the channeling formation 5-3-5-3-5, leading to complete the wave -A.
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Fisher Transform provides a reasonable sense of time to plain a swing trading position. In this case, we can speculate a good point to expect for the wave -iii terminus to take profit. Thus, a lower high will be formed at wave -iv, in which peak price can be consider a new level for a second sell position.
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How much profitable will be the wave -iii?
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Levels to watch. 1st TP at the local support (circle) is on the table.
@haseebbilal2021, according to my analysis, price peaked. Thus, as drawn on my chart, the price action seems to be reversing for an 5th and final wave of the yellow parallel channel, heading DOWN. If you don't know to trade in a sell / short position on futures market, can buy BNBDOWN on Binance spot.