$BNB is compressing inside a clean bearish pennant after a sharp impulsive drop.
This structure usually acts as a continuation pattern, not a reversal — meaning direction matters, and right now momentum is still tilted to the downside.
Price is currently hovering around ~638, right at the apex of the pattern, where decisions happen fast.
🔴 Bearish Breakdown Scenario (Primary Bias)
If #BNB breaks and closes below the lower pennant support (~630–625) with volume:
Downside targets
610 – 600 → first liquidity sweep
585 – 570 → previous swing low (high probability)
540 – 520 → full measured move of the pennant
This aligns perfectly with the prior impulsive leg that formed the pennant.
🟢 Bullish Invalidity Scenario
Bearish structure fails only if price:
Reclaims 660–670 decisively
Breaks above the upper pennant trendline
Upside levels (relief bounce only)
670 – 690
710 – 730
Unless this reclaim happens, upside moves remain corrective, not trend-changing.
Key Takeaways
Pattern: Bearish Pennant
Market state: Compression → Expansion coming
Below 630 = acceleration
Above 670 = structure invalidation