BNB analysis – the price will soon close the triangle. Will they attack the new ATH?

BNB continues in the triangle so far and reaches higher local lows that maintain support. The long-term trend thus remains unchanged. In the short term, the price should also continue upwards, although closing the triangle can be both bearish and bullish. Triangle trading is often treacherous.

If we want to definitively confirm the continuation of the growing trend and the attack on the new ATH, the price needs to exceed the last maximum of $ 645. So far, the price looks bull and a triangle near ATH may mean a continuation of the trend, as it is not a sharp rejection. However, market volatility must be in favor of the bulls and there can be no further downturn.

BNB / USD 4H. Source: TradingView

The BNB closes the triangle

If the price manages to exceed $ 645, there is a high probability that right away will also overcome the last resistance of $ 675. However, there is still room for continuation of the triangle for a whole week. However, the Triangle may also close down, with support at $ 525.

If the triangle is closed by a bearish leg, it does not mean that the growing trend is changing. After the corrective leg, the price would probably be headed for our target anyway. However, the BNB still looks bullish.