Technical analysis by Fobstar about Symbol BNB: Sell recommendation (2/1/2022)

So, what you all actually see is a Descending Triangle Pattern formed in Binance Coin.A descending triangle is a part of the 3 famous triangle patterns, namely:- Ascending, Descending, Symmetrical.All these patterns are some way or another part of Price Action Trading. In this case the upper trend line indicates lower highs and the bottom line indicates equal lows(~).And eventually, price breaks the pattern and a Bearish Breakdown occurs.(Keeping in mind that the break may vary in the other two patterns).After the price took a little support, it went back up and retested the previous support which is generally when most of the traders prefer to enter and make a position, as it's the safest entry possible in the given circumstances.With that being said...Happy Trading !!!