Alikze »» BNB | Support zone failure
🔍 Technical analysis: Support zone failure
- In the 4H time frame, after not being able to break the supply area, it has faced selling pressure.
- Currently, a bullish pattern is observed, which has extended to the supply area.
- Therefore, any pullback to a broken structure can face selling pressure again.
- So we should see an increase in selling pressure in the supply area to continue the corrective lag until the liquidity area.
- In addition, in case of breaking the liquidity area, the correction can continue up to the specified areas and Fibo 2.618.
Alternative scenario: In addition, if it can break and stabilize the supply area upwards, it can have a retest to the next supply area.
🛑Range of resistance or supply area: 531-547
🟢 Support area: 468-464
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BNBUSDT
- In the 4H time frame, after not being able to break the supply area, it has faced selling pressure.
- Currently, a bullish pattern is observed, which has extended to the supply area.
- Therefore, any pullback to a broken structure can face selling pressure again.
- So we should see an increase in selling pressure in the supply area to continue the corrective lag until the liquidity area.
- In addition, in case of breaking the liquidity area, the correction can continue up to the specified areas and Fibo 2.618.
Alternative scenario: In addition, if it can break and stabilize the supply area upwards, it can have a retest to the next supply area.
🛑Range of resistance or supply area: 531-547
🟢 Support area: 468-464
»»»«««»»»«««»»»«««
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support.
Best Regards,❤️
Alikze.
»»»«««»»»«««»»»«««
BNBUSDT Note
According to the predicted behavioral scenario, after not being able to break the supply area, it faced selling pressure. Currently, it is within the scope of the first target area. Therefore, if the return is confirmed, the area can have short targets of $483 and $500. In addition, I remind you that if the supply area does not break upwards, it can touch the second target. Note
According to the latest update, after hitting the demand zone, the price made a retracement to the indicated targets.
Note
Possible path of movement.
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