LIVE$BNB /4 hour reverse downtrend :
Make an entry on short time frame like 5 mints ✅
1. Resistance Zone: The upper purple box around 631.0 marks a resistance zone where the price has struggled to break through and sustain above.
2. Support Zone: The lower purple box around 585.0 marks a support zone where the price has previously found buying interest.
3. False Breakout: The recent spike above the white resistance line indicates a false breakout, as the price quickly retraced back below it.
4. Lower Highs: The yellow arrow suggests a formation of lower highs, indicating that the upward momentum is weakening and a downtrend may be forming.
5. Possible Reversal: The overall pattern suggests a potential reversal from the recent highs, with the price likely to head back towards the support zone around 585.0.
LIVE