BNB | big Ascending Triangle

Hello Traders,

BNB is forming a big Ascending triangle pattern on the weekly timeframe!

when the ascending triangle pattern develops within a downtrend we have two possible trade scenarios:

• A continuation of the downtrend
  
• it can signal an imminent market reversal
  

If the flat resistance line is broken, the ascending triangle pattern can signal an upcoming trend reversal. In this case, we can expect a change in the trend, from bearish to bullish.

In this case, we may open a long trade after a successful breakout, and it's expected to test 496 $ level (+40% gain)

But ...

The ascending triangle also can play out as a continuation pattern.

the upward-sloping trendline of the ascending triangle must be broken to confirm the trend continuation

A short trade is triggered once we break below the upward-sloping trendline. and our target will be 192 $ (-30%)

Thank you for reading!
Please Like and comment with your opinion :)