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- 📢 Gate Square #MBG Posting Challenge# is Live— Post for MBG Rewards!
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#bnb reached a new peak.
As long as it stays above the level of 601 on the 4-hour chart, the rise may continue.
A wedge pattern has started to form only during the rise. If another wave of increase comes, it could reach the 900s, which corresponds to the upper edge of the wedge. This level will serve as resistance. A pullback may occur. If the 601 level is broken downwards, the decline will deepen.
The positive outlook is being maintained for now. Since the wedge has formed in the daily chart, it may take some time to reach the levels I mentioned. When it approaches the upper edge of the wedge and leaves long upper wicks at the top, it will be a sign of selling pressure. Later, when other technical confirmations are received, a downward expectation will arise. It's still early for everything.
I am writing the probabilities.