BNB - Head and Shoulders on the 4H TF
* BNB is still stuck in a range between 220 – 250 USDT.
* Currently, it looks as if BNB is forming a Head and Shoulders pattern on the 4H TF. The
neckline is at the 242 USDT Level.
* The target for the Head and shoulders is 225 USDT. However, there is a daily demand zone
between 231 – 236. I think it is possible for this demand zone to hold BNB’s price from further
deterioration.
* If you are inclined to short BNB, wait for a retest of the neckline as resistance.
NFA.
What do you think? Please share in the comments.
Best Wishes.
* Currently, it looks as if BNB is forming a Head and Shoulders pattern on the 4H TF. The
neckline is at the 242 USDT Level.
* The target for the Head and shoulders is 225 USDT. However, there is a daily demand zone
between 231 – 236. I think it is possible for this demand zone to hold BNB’s price from further
deterioration.
* If you are inclined to short BNB, wait for a retest of the neckline as resistance.
NFA.
What do you think? Please share in the comments.
Best Wishes.
