**BNB 1W: Price is compressing inside a triangle — key level at 762**
On the weekly chart, I’ve marked the **major global support and resistance zones** where price has historically reacted.
Currently, the price is moving inside a **descending triangle**. This pattern is often considered a continuation structure and in many cases tends to **resolve to the downside**.
Despite the fact that the asset is currently rising along with the broader market, I consider a downside scenario possible, roughly following the path shown on the chart.
It is also worth noting that historically, **touching the EMA 111–119 zone on the weekly timeframe has often coincided with the formation of a local or macro bottom**, followed by a price reversal to the upside.
At the same time, the market is currently **trading inside a broader accumulation range**, and the resolution of this structure may not be far away. The key question now is **whether we will see a liquidity sweep of the lows first or not** before the next major move.
❗ **Invalidation of the bearish scenario:**
a **clear break and consolidation above the ~762 level**. In that case, the current structure would be invalidated and the downside scenario would lose relevance.
On the weekly chart, I’ve marked the **major global support and resistance zones** where price has historically reacted.
Currently, the price is moving inside a **descending triangle**. This pattern is often considered a continuation structure and in many cases tends to **resolve to the downside**.
Despite the fact that the asset is currently rising along with the broader market, I consider a downside scenario possible, roughly following the path shown on the chart.
It is also worth noting that historically, **touching the EMA 111–119 zone on the weekly timeframe has often coincided with the formation of a local or macro bottom**, followed by a price reversal to the upside.
At the same time, the market is currently **trading inside a broader accumulation range**, and the resolution of this structure may not be far away. The key question now is **whether we will see a liquidity sweep of the lows first or not** before the next major move.
❗ **Invalidation of the bearish scenario:**
a **clear break and consolidation above the ~762 level**. In that case, the current structure would be invalidated and the downside scenario would lose relevance.
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.