BNB has just entered a small channel between around $450 and $505 and is currently wrestling with ascending resistance and back-testing the bottom of the channel for confirmation. Whether price jumps to $505, flipping resistance into support, or slowly works it's way there while fighting resistance, a price move toward the top of the channel to $505 seems likely at some point. The important thing is to be aware of the ascending trend line:
A quick jump to the top of the channel soon, flipping the trend line into support, before getting rejected and confirming the trend line as support, and holding firm at the top of the channel and going sideways would presumably provide fuel for a squeeze up to the top of the next channel at around $600 before correcting and finding the trend line again.
If price were to slowly work it's way to the top of the channel while remaining under the trend line, there is a 50/50 chance price would get rejected where the ascending trend line meets horizontal resistance at the top of the channel and correct back to the bottom of the channel before making another attempt upward. RSI levels and MACD will be key in this scenario
A quick jump to the top of the channel soon, flipping the trend line into support, before getting rejected and confirming the trend line as support, and holding firm at the top of the channel and going sideways would presumably provide fuel for a squeeze up to the top of the next channel at around $600 before correcting and finding the trend line again.
If price were to slowly work it's way to the top of the channel while remaining under the trend line, there is a 50/50 chance price would get rejected where the ascending trend line meets horizontal resistance at the top of the channel and correct back to the bottom of the channel before making another attempt upward. RSI levels and MACD will be key in this scenario