BNB token is about to face the fourth phase of the Wyckoff pattern, claims an analyst.
BNB will show retracement and fall to lower support levels, MaryParty predicted.
The altcoin has been moving in the $465 and $610 zone since June.
Binance Coin (BNB), the fourth-largest cryptocurrency, has completed the first three phases of the Wyckoff pattern, according to crypto analyst MartyParty. This suggests BNB may avoid a significant correction until a new accumulation phase begins.
MartyParty shared his successful BNB trades based on the Wyckoff pattern in an X post. This technical indicator consists of four phases: accumulation, momentum, distribution, and discount. BNB has progressed through the first three, signaling a potential “retracement” in price.
Exactly 4 months of Liquidation Level trading. #BNB perfect 3 flushes of the Wyckoff executed over 4 months. Flawless. Now we retrace.#wegoingup pic.twitter.com/9bVLZc3Zdh
— MartyParty (@martypartymusic) September 30, 2024
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BNB appears to have finished the first three phases, and prices will now likely “retrace,” according to MartyPa…
The post BNB Completes Wyckoff Pattern: Analyst Predicts Retracement appeared first on Coin Edition.
