๐ $BNB The M Pattern Is Playing Out! ๐๐
Iโm watching BNB closely because the chart shows a potential M (double-top) structure around $800โ$810. Price tested this area twice, failed to break higher, and then dropped sharply. Looks like the bulls tried twice and still couldnโt get the job done! ๐๐
Now, price has bounced from the $700โ$705 liquidity zone and is trading around $746. But Iโm not calling it a reversal just yet, the previous lower high around $755โ$760 is the level I want to watch. ๐ฏ
๐น Resistance: $755โ$760
๐น Major resistance: $800โ$810
๐น Key liquidity/support: $700โ$705
๐น Next downside area: Around $675 if support breaks.
If price gets rejected around $755โ$760, sellers could regain control and push BNB back toward $700. A clean breakdown could expose $675.
On the other hand, reclaiming $760 would weaken the immediate bearish setup.
For now, Iโm keeping my eyes on the neckline and waiting for confirmation. The M is visible, but until price breaks support, itโs still a developing pattern, not a guaranteed dump! ๐
Two tops, one big question: will the neckline hold, or will BNB take the elevator downstairs? ๐ข
#BNB #cryptotrading #TechnicalAnalysis #BinanceCoin
Iโm watching BNB closely because the chart shows a potential M (double-top) structure around $800โ$810. Price tested this area twice, failed to break higher, and then dropped sharply. Looks like the bulls tried twice and still couldnโt get the job done! ๐๐
Now, price has bounced from the $700โ$705 liquidity zone and is trading around $746. But Iโm not calling it a reversal just yet, the previous lower high around $755โ$760 is the level I want to watch. ๐ฏ
๐น Resistance: $755โ$760
๐น Major resistance: $800โ$810
๐น Key liquidity/support: $700โ$705
๐น Next downside area: Around $675 if support breaks.
If price gets rejected around $755โ$760, sellers could regain control and push BNB back toward $700. A clean breakdown could expose $675.
On the other hand, reclaiming $760 would weaken the immediate bearish setup.
For now, Iโm keeping my eyes on the neckline and waiting for confirmation. The M is visible, but until price breaks support, itโs still a developing pattern, not a guaranteed dump! ๐
Two tops, one big question: will the neckline hold, or will BNB take the elevator downstairs? ๐ข
#BNB #cryptotrading #TechnicalAnalysis #BinanceCoin