๐ก BNB Detailed Analysis with Critical Areas ๐ฅ๐ณ
BNB is currently testing a very strong support area between $700 โ $806.85 ๐จ๐ปโฆ this area could determine the fate of the upcoming movement in the coming days.
๐ต The blue scenario (possible): Wave 4 may extend
โข I still do not rule out forming a new low within the corrective Wave 4 that started in October.
โข The first sign that the bottom has actually completed will be a break above $942 โ the peak on Monday, November 18.
โข The stronger confirmation we need to see is above $1,034.
๐ Thereโs still a long way to go before we can say โBNB has completed the correctionโ with certainty.
โธป
๐ข Is a rebound possible? Yesโฆ but under certain conditions โ ๏ธ
There is a possibility that we may see a bullish reversal from the current area, but we need stronger evidence.
Until BNB breaks the $942 level, the risk of dropping to a new low remains.
๐ป Possible bottom area:
$700 โ $752
This area is the โgolden zoneโ from which BNB could start a strong upward wave later on.
โธป
๐ฅ After the potential bottom: the big target ๐ข๐
If BNB can maintain broader support between:
$700 โ $806.95
then this opens the door for a larger upward movement in the medium term towards:
๐ฏ $1,630 and above
and this will mark the beginning of a massive expansion wave in the market.
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