Hello traders 🐺 .
in this idea I want to talk about the BNB , I think maybe this is a time to pay our attention to the one of the most popular coin , from the biggest Crypto currency exchange in the world BNB .
ok guys as you know usually the triangle patterns are continuation patterns most of the time but there are some triangle patterns that they are reversal pattern , but here we have a ascending triangle which is a bullish continuation pattern because as you can see the BNB trend is still bullish in the weekly time frame .
currently BNB is testing the weekly support structure around 325$ and as long as BNB could hold above the support structure and don't break below the previous low we can say in the weekly chart BNB price is still bullish , also there is some possibility to have wick below the triangle trend line but for us to remain bullish on the BNB , price must close a weekly candle above the triangle trend line .
also if BNB reverse the trend from the current level and break the daily bearish trend , there is strong chance for BNB to test 485$ , but as long as BNB trade below the daily trend line ( blue downward trend line) ; we can expect more downward move or consolidation above the weekly support .
it's too early to talk about the price targets of this triangle because it's not complete yet and in my opinion it needs more time to see the BNB reaction to this pattern , but I will update you about the BNB price targets in the future update about the BNB , so make sure to follow me and check your notification to receive my new idea and updates about the market ; I wish you the best in your trading journey 🚀🐺 .
in this idea I want to talk about the BNB , I think maybe this is a time to pay our attention to the one of the most popular coin , from the biggest Crypto currency exchange in the world BNB .
ok guys as you know usually the triangle patterns are continuation patterns most of the time but there are some triangle patterns that they are reversal pattern , but here we have a ascending triangle which is a bullish continuation pattern because as you can see the BNB trend is still bullish in the weekly time frame .
currently BNB is testing the weekly support structure around 325$ and as long as BNB could hold above the support structure and don't break below the previous low we can say in the weekly chart BNB price is still bullish , also there is some possibility to have wick below the triangle trend line but for us to remain bullish on the BNB , price must close a weekly candle above the triangle trend line .
also if BNB reverse the trend from the current level and break the daily bearish trend , there is strong chance for BNB to test 485$ , but as long as BNB trade below the daily trend line ( blue downward trend line) ; we can expect more downward move or consolidation above the weekly support .
it's too early to talk about the price targets of this triangle because it's not complete yet and in my opinion it needs more time to see the BNB reaction to this pattern , but I will update you about the BNB price targets in the future update about the BNB , so make sure to follow me and check your notification to receive my new idea and updates about the market ; I wish you the best in your trading journey 🚀🐺 .