BNBUSDT Price Action Discovery with Strong Bullish Volatility
Points to consider,
- Weekly S/R Zone Bullish Retest
- Price Action Discovery Mode
- Strong Bullish Volatility
- New All-Time High Established
BNBUSDT, maintaining its consecutive Higher Lows in a Price Action Parabola, no valid Volume Climax’s are present which is indicative of further upside potential. Price Action as of now has a greater probability of testing this recent S/R Flip Zone, allowing for long biased entries.
Observing the Chart above, we can see a clear Daily S/R level that has been a staunched resistance until a break and retest leading into the Weekly S/R Zone. The initial test of the weekly level posed a rejection, causing Price Action to oscillate between the two key Support and Resistance Levels.
A Local Higher Low Projection between these levels was established, leading Price Action to consolidate under the Key Weekly S/R Zone. Such consolidation is deemed bullish as Price Action absorbs supply as volatility tightens. Evidently, a Bullish Engulfing candle came to fruition, breaking the S/R Zone and confirming a retest before a continuation.
As of current, a strong Bullish Volatility Expansion has occurred, leading Price Action into all-time highs. Being in a Blue-Sky breakout with no valid volume climaxes deems further upside being highly imminent as there are no valid signs of a temporary top.
BNBUSDT Daily RSI
Perceiving the current RSI; trading at overbought conditions needs to be taken into consideration. The previous overbought conditions at this extreme were met with a deviation back into its Bullish Control Zone. Thus it is highly probable at some stage that a deviation will occur, holding the Bullish Control Zone will then be important to maintain a bullish direction bias.
To conclude, BNBUSDT remains in price discovery with no sign of a temporary top such as a Volume Climax Node. The All-Time Highs is now the current objective, exceeding this level will increase the probability of a further expansion. The RSI on the other hand needs to be monitored for a deviation back into the Bullish Control Zone. Holding these regions will solidify strength in the trend, however breaking and penetrating the Bearish Control Zone will signify short-term weakness.
Hope this article helps in making discretionary trading decisions.
- Weekly S/R Zone Bullish Retest
- Price Action Discovery Mode
- Strong Bullish Volatility
- New All-Time High Established
BNBUSDT, maintaining its consecutive Higher Lows in a Price Action Parabola, no valid Volume Climax’s are present which is indicative of further upside potential. Price Action as of now has a greater probability of testing this recent S/R Flip Zone, allowing for long biased entries.
Observing the Chart above, we can see a clear Daily S/R level that has been a staunched resistance until a break and retest leading into the Weekly S/R Zone. The initial test of the weekly level posed a rejection, causing Price Action to oscillate between the two key Support and Resistance Levels.
A Local Higher Low Projection between these levels was established, leading Price Action to consolidate under the Key Weekly S/R Zone. Such consolidation is deemed bullish as Price Action absorbs supply as volatility tightens. Evidently, a Bullish Engulfing candle came to fruition, breaking the S/R Zone and confirming a retest before a continuation.
As of current, a strong Bullish Volatility Expansion has occurred, leading Price Action into all-time highs. Being in a Blue-Sky breakout with no valid volume climaxes deems further upside being highly imminent as there are no valid signs of a temporary top.
BNBUSDT Daily RSI
Perceiving the current RSI; trading at overbought conditions needs to be taken into consideration. The previous overbought conditions at this extreme were met with a deviation back into its Bullish Control Zone. Thus it is highly probable at some stage that a deviation will occur, holding the Bullish Control Zone will then be important to maintain a bullish direction bias.
To conclude, BNBUSDT remains in price discovery with no sign of a temporary top such as a Volume Climax Node. The All-Time Highs is now the current objective, exceeding this level will increase the probability of a further expansion. The RSI on the other hand needs to be monitored for a deviation back into the Bullish Control Zone. Holding these regions will solidify strength in the trend, however breaking and penetrating the Bearish Control Zone will signify short-term weakness.
Hope this article helps in making discretionary trading decisions.
