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BNB Prediction – Will BNB Take the Chance to Climb to $1000?

 


BNB price recently bounced off the $700 resistance and then fell to the golden pocket of the recent up move. This GoldenPocket (+/- $390) was also respected as support. A short time later, after the BNB price reached the GoldenPocket, the price formed a doji on the monthly chart. Candlestick patterns called doji are often used as trend reversals. Because of this, with dojis bullish after a price decline, we expect prices to rise over the next few months. If the current monthly candle closes much like the last two, we would have another bullish pattern. We would have a Three White Soldiers formation, which is also a trend reversal formation. With the last monthly candles being quite bullish, we anticipate a rally to at least $700.

With the BNB price correcting to the GoldenPocket, there are chances that the price will break out of the resistance. Since this will now be the third touch of the resistance, the chance that it will break is actually quite high. By reaching the GoldenPocket, BNB price not only has a chance to break the $700 resistance but also formed a possible ABC sequence. This sequence targets around $1,000, so we expect BNB price to rally to $1,000 once it breaks the $700 resistance. Once the $700 resistance breaks, the price would only need about a 50% increase, which is perfectly realistic.

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