Chibuike_Odoh

BNBUSDT (BINANCE COIN) - BREAKOUT UPDATE

Long
BINANCE:BNBUSDT   Binance Coin / TetherUS
ANALYSIS ๐Ÿ”Ž
- BNBUSDT is bounded in the ascending channel pattern.
- Price is testing the ascending channel support and 0.618 fibonacci retracement level.
- Price action is printing a pennant consolidation pattern.
- A pennant pattern is a trend continuation pattern, a bullish one in this case.
- There's a breakout potential.

BUY ENTRY โฌ†๏ธ
- Breakout above the pennant pattern's inclined resistance and previous swing high horizontal resistance level .

TARGETS ๐ŸŽฏ
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Ascending channel resistance.
- Fibonacci extension levels.

SETUP INVALIDATION โŒ
- Breakdown below the ascending channel support and pennant pattern's inclined support.

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