BNB broke out of this descending triangle. Now we are taking a break just below $250 where we have a resistance level as indicated by the Fib line.
If we clear this resistance, we're clear to go higher and BNB will likely re-test its current ATH at $350. Nice.
The overall market continues to remain very bullish and if you check my ETH idea, we're looking great for some nice pump in the future. This correction should come to an end soon and then we will resume the FOMO price action.
The indicators are looking good for BNB, we had a break out of this triangle on volume, which is very good.
On daily we are trying to curve up and the indicators may need more time to turn bullish on this timeframe, so that is why it is important to watch this resistance at $250. We absolutely have to pass it if we are to maintain our bullish bias, otherwise, we could be reversed here and re-test support.
If you did not buy the breakout, then best to wait for this level to be resolved before jumping in. On daily the volume is not looking great and still declining, so the real move in BNB price is still to come.
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If we clear this resistance, we're clear to go higher and BNB will likely re-test its current ATH at $350. Nice.
The overall market continues to remain very bullish and if you check my ETH idea, we're looking great for some nice pump in the future. This correction should come to an end soon and then we will resume the FOMO price action.
The indicators are looking good for BNB, we had a break out of this triangle on volume, which is very good.
On daily we are trying to curve up and the indicators may need more time to turn bullish on this timeframe, so that is why it is important to watch this resistance at $250. We absolutely have to pass it if we are to maintain our bullish bias, otherwise, we could be reversed here and re-test support.
If you did not buy the breakout, then best to wait for this level to be resolved before jumping in. On daily the volume is not looking great and still declining, so the real move in BNB price is still to come.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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