Lingrid | BNBUSDT Contraction-Expansion Pattern. Potential Long

18 Des

The price perfectly fulfilled my last idea. It hit the target. BNBUSDT is currently moving sideways following the surge at the beginning of December. The lower highs and higher lows indicates that the price action is narrowing, suggesting a potential triangle pattern. This pattern is typically viewed as a trend continuation signal. The market is likely to continue its sideways movement, generating liquidity above and below the triangle formation, which could lead to a contraction-expansion scenario. I expect the price to dip below the psychological level of 700 before potentially bouncing off the channel border if bullish momentum builds after testing this support level. My goal is resistance zone around 760

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻