🔥 BNB Rising Wedge: Bearish Break Out Coming?
Updated
BNB has been trading inside this rising wedge pattern for several months now. Rising wedges are classically bearish reversal patterns, so that's the direction that we're going to look.
BTC appears to be weak. If this weakness continues, I'm expecting a bearish break out of BNB in the near future. In case we get a bullish CPI reaction today, BNB might see a reversal and move back up towards the resistance of the pattern.
Be patient for the break out. Blue area is the target.
BTC appears to be weak. If this weakness continues, I'm expecting a bearish break out of BNB in the near future. In case we get a bullish CPI reaction today, BNB might see a reversal and move back up towards the resistance of the pattern.
Be patient for the break out. Blue area is the target.
Note
Bottom support of the wedge held. If BTC keeps trading neutral/bullish, I'd expect a move towards the 340-350 area.
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