BNB "Inverted HNS Analysis"
BNB/USDT Inverted Head and Shoulder Pattern
The above chart of BNB/USDT laid out the inverted head and shoulder pattern. It is the inverse of the head and shoulder pattern. Generally, in this pattern, the price action slides downwards and then rises up. Thus, forming three troughs in the pattern, left shoulder, head, and right shoulder.
This pattern can be a potential signal for the upcoming bullish market. If the price action establishes a breakout above the neckline resistance, the price might rise up to new highs.
Currently, BNB/USDT is in the range of $306.10. If the pattern continues, the price of BNB/USDT might reach the resistance levels of $330. If the trend reverses, then the price of BNB/USDT may fall to $302.
BNB/USDT Inverted Head and Shoulder Pattern
The above chart of BNB/USDT laid out the inverted head and shoulder pattern. It is the inverse of the head and shoulder pattern. Generally, in this pattern, the price action slides downwards and then rises up. Thus, forming three troughs in the pattern, left shoulder, head, and right shoulder.
This pattern can be a potential signal for the upcoming bullish market. If the price action establishes a breakout above the neckline resistance, the price might rise up to new highs.
Currently, BNB/USDT is in the range of $306.10. If the pattern continues, the price of BNB/USDT might reach the resistance levels of $330. If the trend reverses, then the price of BNB/USDT may fall to $302.
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