Technical analysis by sinaaf about Symbol BNB: Buy recommendation (12/17/2024)

Current Structure:The price is consolidating near 719.47 USDT, testing a key horizontal resistance zone around 730.65 USDT.A clean breakout above this level with a 1-hour confirmation candle would signal a bullish move.2. Risk-to-Reward Setup:Entry: Around 730-735 USDT after confirmation.Target: 835.55 USDT (previous significant resistance).Stop-Loss: Below 704.35 USDT, aligning with recent lows.3. Volume & RSI:Volume remains steady but needs to increase to support a breakout.RSI is near 50, suggesting neutral momentum with room for upside.Long Plan:I will open a long position if I get a 1-hour bullish confirmation candle above 730.65 USDT.The setup offers a favorable risk-to-reward ratio (targeting ~835 with a stop near 704).This trade aligns with bullish expectations on the breakout and retest strategy. Patience for the confirmation is key.