At the end of 2022, an important development took place in the cryptocurrency market, and as recent years have shown, the end of the year and the first weeks of the following year have always been crucial periods of intense growth.So there is a high probability that this will repeat this year again and in this case I analyzed the cryptocurrency market and found interesting setups in the market with Binance-Coin emerging with a good configuration going forward.
Looking at my chart, we can see how Binance-Coin is building a major descending triangle formation which has a similar shape to the one currently being developed in Ethereum which I referred to a few days ago. Now that Binance-Coin has come a long way with A, B, and C completed waves in formation, there are only two completed D and E waves left. coherent The number of waves within the formation is developing and in this case Binance-Coin also has the largest support group inside the lower border of the formation as it is likely to bounce once the number of waves completes with the last wave E.
With all these factors now in mind, Binance-Coin has built a solid formation structure where the final breakout is likely to come and the probability increases when the number of waves in the formation reaches the final stage. when it erupts and increasesFinally push above the upper bound of the formation shown in my chart this will be the setup where Binance-Coin will continue to increase and activate the target area shown in my diagram, once this target area is reached, further considerations must be made, particularly as to what and how to achieve these goals.
On that note, thank you all for watching, and enjoy the last days of 2022 with your friends and family looking forward to the start of the new year.
The information provided is for educational purposes only and should not be used to take action in the markets.