ANALYSIS 🔎
- BNBUSDT is bounded in the ascending channel pattern.
- Price is testing the ascending channel support and 0.618 fibonacci retracement level.
- Price action is printing a pennant consolidation pattern.
- A pennant pattern is a trend continuation pattern, a bullish one in this case.
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the pennant pattern's inclined resistance and previous swing high horizontal resistance level.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Ascending channel resistance.
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending channel support and pennant pattern's inclined support.
- BNBUSDT is bounded in the ascending channel pattern.
- Price is testing the ascending channel support and 0.618 fibonacci retracement level.
- Price action is printing a pennant consolidation pattern.
- A pennant pattern is a trend continuation pattern, a bullish one in this case.
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the pennant pattern's inclined resistance and previous swing high horizontal resistance level.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Ascending channel resistance.
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending channel support and pennant pattern's inclined support.
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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.
Related publications
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.