Alikze »» BNB | Ascending Wave 3 or C Scenario - 1D
2024-10-19

🔍 Technical analysis:  Ascending Wave 3 or C Scenario - Reverse Head and Shoulders pattern and bullish channel 

- It is moving in an ascending channel in the daily time frame.

- According to the analysis presented in the  previous post , after the inability to break the supply area, the range of 530 to 545 faced correction, which after the correction in the Liquidity Area, it faced demand. After that, it entered an upward rally and then From the failure of the supply zone (545-53) and pullback, it entered the upward continuation phase.

  

  

- As can be seen, after the correction in the Liquidity Area, a head and shoulders pattern has also been formed.

- It is currently in the supply area.

Therefore, in case of selling pressure, it can face the demand again by correcting in the bottom area of ​​the channel, and after the failure of the supply area and pulling back to it, it can continue its growth until the next supply area, which is also the ceiling of the ascending channel.

💎  In addition, if he can break the supply zone that is the range of the previous hundred fibo wave (the ceiling of the channel), he can continue his growth by pulling back to it until the next supply zone. 

⚠️ Note: In addition, it should be noted that this upward wave should not enter the Liquidity Area, touching the number 470.9 will invalidate the upward scenario. ⚠️
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