BNB Downtrend Breakout
BNB has corrected 52% off its November highs and come back into HTF weekly demand zone, created nice rejection wicks into the zone and bullish pin bar candles on the weekly.
Price action is trending upwards within an internal swing structure maintaining higher highs and higher lows on the weekly swing structure and now looking to flip bullish on the daily after a breakout of the downtrend and creation of a higher low and looking to put in a higher high. This would confirm the start of a new uptrend in BNB
RSI on 3d looks reset, above the MA with bullish divergences and ready start a move to the upside. MACD on weekly converging showing upcoming crossover as momentum starts to come back into the market.
Id expect to see a reversal from this area.
Price action is trending upwards within an internal swing structure maintaining higher highs and higher lows on the weekly swing structure and now looking to flip bullish on the daily after a breakout of the downtrend and creation of a higher low and looking to put in a higher high. This would confirm the start of a new uptrend in BNB
RSI on 3d looks reset, above the MA with bullish divergences and ready start a move to the upside. MACD on weekly converging showing upcoming crossover as momentum starts to come back into the market.
Id expect to see a reversal from this area.
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