Hello traders, I want share with you my opinion about Binance Coin. The bullish momentum for BNB has been visibly accelerating, with the price transitioning from a steady upward channel into a steeper and more aggressive rising wedge formation. This change in character often suggests a late-stage trend that may be approaching exhaustion. The price action has been oscillating within this wedge, using the 820 level as a key support area for its most recent rebound. Currently, the asset is making another push towards the apex of the formation, approaching the final resistance line that has capped the highs. The primary working hypothesis is a short scenario, which is based on the typically bearish resolution of a rising wedge pattern. It is anticipated that the price will be rejected from the upper resistance line of the wedge, signaling the exhaustion of buying pressure. A confirmed rejection from this peak would likely trigger a sharp reversal, with enough momentum to cause a breakdown below the wedge's ascending support line and the critical horizontal support area around 820. This structural failure would validate the bearish thesis. Therefore, the tp for this anticipated reversal is logically placed at the 805 level, representing a prudent first target for the price to reach following a breakdown of the multi-week wedge structure. Please share this idea with your friends and click Boost 🚀
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