$BNB
While breakout chasers buy into local momentum spikes, this 1-hour chart on $BNB is testing moving average support following a successful descending channel breakout.
After breaking out of the macro channel and reclaiming key moving averages, price has pushed upward to trade around $744.22 . The projected path outlines a brief pullback into the buy zone around $731.08 to $736.69 to retest moving average support before initiating a strong impulsive rally toward the upper target level at $757.06 .
Holding above the buy zone support keeps the bullish continuation setup active, targeting $757.06 . A breakdown below support invalidates the immediate reversal structure and opens downside risk back into the channel.
Don't buy vertical candles inside local resistance wait for structural pullbacks into the buy zone to position for the next leg up.
#BNB #BinanceCoin #CryptoAnalysis #TechnicalAnalysis #Trading
While breakout chasers buy into local momentum spikes, this 1-hour chart on $BNB is testing moving average support following a successful descending channel breakout.
After breaking out of the macro channel and reclaiming key moving averages, price has pushed upward to trade around $744.22 . The projected path outlines a brief pullback into the buy zone around $731.08 to $736.69 to retest moving average support before initiating a strong impulsive rally toward the upper target level at $757.06 .
Holding above the buy zone support keeps the bullish continuation setup active, targeting $757.06 . A breakdown below support invalidates the immediate reversal structure and opens downside risk back into the channel.
Don't buy vertical candles inside local resistance wait for structural pullbacks into the buy zone to position for the next leg up.
#BNB #BinanceCoin #CryptoAnalysis #TechnicalAnalysis #Trading