------------------ $BNB  ANALYSIS 16 JANUARY, 2025 -------------

On December 2, 2024, BNB broke out of a Cup & Handle pattern on the weekly chart. This is a classic bullish continuation pattern, indicating a potential strong upward trend.

After the breakout, $BNB retraced this week to retest the breakout level, which previously acted as strong resistance. This retest solidifies the breakout as genuine, confirming the validity of the Cup & Handle pattern.

The retest of the resistance-turned-support level is a positive signal, demonstrating that the breakout has substantial strength backed by market interest.

------------------ Trading Recommendations: ---------------------

1. Entry Position: Open a LONG (buy) position now, as the retest phase appears to be complete and the price is showing bullish momentum.

2. Stop Loss: Set at 635 USDT, which is below the key support level, ensuring limited downside risk.

3. Take Profit: Target at 1000 USDT, aligning with the measured move projection based on the height of the Cup & Handle pattern.

This setup offers an attractive risk-reward ratio, given the proximity of the stop-loss level to the entry price and the significant upside potential.