Credit: Original article published by Coingape.


  • Weekly S/R Zone Bullish Retest
  • Price Action Discovery Mode
  • Strong Bullish Volatility
  • New All-Time High Established

BNBUSDT’s, currently is trading in a Blue-Sky Breakout with a weekly candle close coming to fruition. The close will greatly dictate the overall direction in the immediate short term, as of current, the objective is the Swing High (All Time High).

BNBUSDT  Weekly Price Action Chart

Chart by Tradingview

Observing the chart above, we can see a clear Daily S/R level that has been a staunched resistance until a break and retest leading into the Weekly S/R Zone. The initial test of the weekly level posed a rejection, causing Price Action to oscillate between the two key Support and Resistance Levels.

A Local Higher Low Projection between these levels was established, leading Price Action to consolidate under the Key Weekly S/R Zone. Such consolidation is deemed bullish as Price Action absorbs Supply as volatility tightens. Evidently, a Bullish Engulfing candle came to fruition, breaking the S/R Zone and confirming a retest before a continuation.

As of current, a strong Bullish Volatility Expansion has occurred, leading Price Action into All-Time Highs. Being in a Blue-Sky breakout with no valid Volume Climaxes deems further upside being highly imminent as there are no valid signs of a temporary top.


Perceiving the current RSI; trading at Overbought Conditions needs to be taken into consideration. The previous Overbought Conditions at this extreme were met with a deviation back into its Bullish Control Zone. Thus it is highly probable at some stage that a deviation will occur, holding the Bullish Control Zone will then be important to maintain a Bullish Direction Bias.

To conclude, BNBUSDT remains in Price Discovery with no signs of a temporary top such as a Volume Climax Node. The All-Time Highs is now the current objective, exceeding this level will increase the probability of a further expansion. The RSI on the other hand needs to be monitored for a deviation back into the Bullish Control Zone. Holding these regions will solidify strength in the trend, however breaking and penetrating the Bearish Control Zone will signify short-term weakness.

Hope this article helps in making discretionary trading decisions.

The post BNBUSDT Price Action Discovery With a Strong Bullish Volatility Expansion appeared first on Coingape.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency



No responses yet

Leave a Reply

Your email address will not be published. Required fields are marked *


Mine Pi From Your Cellphone

Mine Pi Now! - Use our username (cryptosonline) as your invitation code.

Visit Our Other Websites - Premium Domain Names. - Social Network - Mid-century Paris, tokenized on the WAX blockchain. - Ultra-Priviate DEX. - Classic Automobile News.