BNB Forming Head & Shoulders Breakdown Within Descending Channel

3 dni temu

Hi!

The chart shows a descending channel, indicating that the broader trend remains bearish. Inside this channel, we can see a Head and Shoulders pattern that recently broke below its neckline, confirming a potential continuation of the downtrend.

After the neckline breakout, price pulled back slightly but continues to trade under the broken support. The two projected blue curves suggest a possible short-term retracement toward the neckline or mid-range of the channel, followed by another move to the downside.

The yellow highlighted area marks a strong target/support zone between roughly $950–$970, which aligns with:

• The bottom boundary of the descending channel, and
  
• The measured move projection from the Head and Shoulders pattern.
  

As long as the price stays below the neckline and within the channel, the bearish bias remains intact. A clean break above the neckline could temporarily invalidate this scenario and lead to a relief rally, but overall, momentum favors a continuation toward the lower support zone.

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