 BNB/USDT weekly analysis.
2025-01-16
Category: None

The chart shows two rounded bottoms, which resemble an inverted head and shoulders pattern.
This pattern is typically a bullish reversal indicator, suggesting upward price movement.

The horizontal line marks a long-standing resistance level.
A breakout above this resistance would indicate strong bullish momentum, as seen in the recent price rise.

The projected move (indicated by the upward arrow) suggests a target price near $1,100.
This aligns with the measured move of approximately 75.54% calculated from the pattern’s neckline to its lowest point.

BNB is trading at $710.74 with a positive momentum of +2.51% for the current period.
This setup indicates strong bullish sentiment in the market. However, traders should consider a possible retest of the breakout zone (around $600) and manage risk with a stop-loss below the neckline to avoid an unexpected reversal.

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DYOR. NFA