A falling wedge is usually a bullish pattern . However the higher timeframe, the weekly, signals a bearish MACD cross and the daily has a potential daily MACD cross. Both RSI and S. RSI pointing down.
A possible V-Recovery is more likely than a typical Breakout with Retest out of the Falling Wedge .
If more EMAs death cross then BNB is to be seen as in a bearish trend .
A possible V-Recovery is more likely than a typical Breakout with Retest out of the Falling Wedge .
If more EMAs death cross then BNB is to be seen as in a bearish trend .
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Added Weekly TrendlinesNote
Consider that a price level of $240 is very likely on the weeklyNote
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good bounce but take some profit and don't hold too long into this ideaNote
Retest of the rising wedge
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.