BNB Breaking Out Right Now! Price To $900 Buy Now?

3:02 pm, Sat, 1 May 21

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BNB bullish analysis form a previous article BNB Ready To Fly! Next Target $900?

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?

BNB Breaking Out Right Now! Price To $900 Buy Now?
The BNB price breaking out of the bullish flag pattern on the 4-hour timeframe

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.

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Key Levels To Watch Out For

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Key levels to watch for on the BNB/USD 4-hour timeframe

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.

BNB Breaking Out Right Now! Price To $900 Buy Now?
Price scenario for the BNB/USD Pair on the 4-hour timeframe

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.

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Bullish bias for BNB as far as price stays above the $428 horizontal support on the 4-hour timefrmae

Final Verdict!

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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More Trading Ideas

Check out our Youtube video for our latest analysis on Bitcoin, Ehtereum and the Cardano crypto pairs.

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