BGB is trading inside a well-defined long-term rising channel on the weekly timeframe, respecting bullish market structure since 2022.
Price has completed a full accumulation → expansion cycle and is currently undergoing a healthy corrective phase before the next impulsive move.
Technical Structure
Long-term ascending trendline remains intact
Clear 5-wave Elliott structure on HTF
Wave 4 correction following a strong impulsive expansion
Price reacting from dynamic channel support
HTF Fair Value Gap (FVG): $2.40 – $1.70
Bullish structure maintained above $3.40
Upside Targets (Wave 5 Extension)
$10
$15
$20
Alternative Scenario
If price breaks below $3.40 and an HTF candle closes below this level, there is a high probability of a move toward the $2.00 support and HTF FVG zone, which would represent a strong long-term accumulation area rather than trend invalidation.
Bias & Invalidation
As long as BGB/USDT holds above the rising channel support, the macro bullish bias remains intact.
Invalidation: Weekly close below the rising channel.
Technical analysis only. Not financial advice. DYOR.
Price has completed a full accumulation → expansion cycle and is currently undergoing a healthy corrective phase before the next impulsive move.
Technical Structure
Long-term ascending trendline remains intact
Clear 5-wave Elliott structure on HTF
Wave 4 correction following a strong impulsive expansion
Price reacting from dynamic channel support
HTF Fair Value Gap (FVG): $2.40 – $1.70
Bullish structure maintained above $3.40
Upside Targets (Wave 5 Extension)
$10
$15
$20
Alternative Scenario
If price breaks below $3.40 and an HTF candle closes below this level, there is a high probability of a move toward the $2.00 support and HTF FVG zone, which would represent a strong long-term accumulation area rather than trend invalidation.
Bias & Invalidation
As long as BGB/USDT holds above the rising channel support, the macro bullish bias remains intact.
Invalidation: Weekly close below the rising channel.
Technical analysis only. Not financial advice. DYOR.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Twitter: twitter.com/CryptoPatel
Telegram: t.me/OfficialCryptoPatel
Instagram: instagram.com/cryptopatel?utm_medium=copy_link
Telegram: t.me/OfficialCryptoPatel
Instagram: instagram.com/cryptopatel?utm_medium=copy_link
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
