The last time we analyzed the BNB chart, the Altcoin price was still trading well within the flag pattern we identified on the 4-hour timeframe. We talked in-depth about this flag pattern, our bullish prediction, and what this move entails for the BNB price in our previous analysis BNB Ready To Fly! Next Target $900?
Well, that bullish prediction is already playing out as we speak. The BNB price has broken out of that flag pattern and as started the more than 50% price surge to the $900 price region.
Key Levels To Watch Out For
The first level we are watching is the top channel of the flag pattern. We want to see the BNB price continue trading above this region. A price fall back below that channel could see BNB begin ranging again.
If this retracement scenario plays out it doesn’t change our bullish bias on the BNB/USD crypto pair. However, a break below the $428 horizontal support could spell doom for BNB and change our bias to a sell.
As far as the BNB/USD price stays above the 428 horizontal support, we will remain bullish on the Altcoin. The Flag pattern just confirms that bullish bias and provides us with a high-quality bullish pattern to take advantage of. And right now BNB is breaking out!
If this bullish pattern plays out, we can expect to see a price surge in the BNB price very soon!
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