BNB/USDT TECHNICAL ANALYSIS - 4H 🚀📈
Analytical model:
The 4-hour BNB/USDT chart is showing the formation of a falling wedge, which is a pattern that signals a bullish reversal. Currently, the price has broken above the pattern's resistance line, indicating a strong buy signal.
Indicators and technical factors:
Support zone: $575
Resistance zone: $610
Fibonacci Retracement: Fibonacci levels from 0.236 to 0.786 have been displayed on the chart, indicating potential resistance levels.
MACD: The MACD line crosses above the signal line, showing a strong buy signal.
Trend prediction:
BNB/USDT price has broken out of the falling wedge pattern and is likely to continue rising. The break of the resistance line and the price uptrend were confirmed by the MACD indicator.
Entry point:
Entry: $605.3 (Current Price)
TP1: $630
TP2: $650
SL: $575
🚀📈 Follow closely to take advantage of this opportunity! 📈🚀
DYOR
