Is BNBUSDT on the Brink of a Major Bullish Breakout?

Jul 19

Yello! Did you see how BNBUSDT has taken liquidity and formed an inverse head and shoulders pattern? This setup is raising the odds of a bullish move! But there's more to the story. Let’s dive into the details:

💎For this bullish scenario to play out, BNB must break out of the resistance zone and close a candle above it. This would indicate a potential move up to the next swing or resistance levels.

💎In the event of a pullback, we can anticipate a bounce from the Bullish Order Block (OB). However, for confirmation, we need to see an I-CHoCH (internal Change of Character) that aligns with a bullish market structure. This would further increase the probability of a favorable outcome.

💎On the flip side, if the price breaks down below the Bullish OB and closes a candle beneath it, our entire idea and pattern would be invalidated. This would suggest a different market direction, requiring us to reassess our strategy.

As always, it's crucial to stay disciplined and patient. The market can be unpredictable, and only those who stick to their strategies will thrive.

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