Does $BNB Price $1000 Rally Follow Bitcoins' $100k Milestone?

Crypto markets rose on Friday, December 6th, as Bitcoin stayed above $100k. Major assets like Binance currency are poised for a breakthrough as altcoin bullish momentum spreads. Whale buildup supports the price spike, suggesting a protracted boom.

Binance is trading at $743.75, up 3.71% intraday. According to CoinGecko, the asset's market worth rose to $108.4 Billion and its 24-hour trading volume reached $27 Billion.

BNB price breakout from In H&S pattern indicates 43-month accumulation trend escape.

Long-tail rejection candles at $690 support increase demand for the upcoming jump.

Crypto buyers might use the 200-day Exponential Moving Average on the 4-hour chart as retreat support.

EmberCN reported that an address withdrew 3,566 Binance Coins (BNB) worth $2.51 million from Bitget at $706 each. This happened six hours before the news amid a major market drop.

On Arkham, the withdrawal suggests major investors are buying Binance tokens amid the market downturn. The BNB price has possibilities for additional increase after reaching a fresh all-time high of $793.8.

The InH&S pattern boosts BNB price.

The Bitcoin price climb to $100k has helped most major cryptocurrencies continue their positive comeback into December. BNB broke through $690 neckline resistance of the Inverted Head and Shoulder pattern and rallied to new ATH after the momentum.

The pattern has three troughs: the first and third are the “shoulders,” and the deeper center is the “head.” When sellers lose momentum, buyers come in and drive prices upward.


BNB's 4-hour chart indicates long tail rejection as demand pressure returns near $490. If the pattern maintains bullish momentum, the rebound might reach $1,196. #AltcoinMarketWatch #CryptoHistoricMoment $BNB