BNB (BNB) is showing renewed bullish momentum after bouncing more than 13% from a local bottom near $800. It traded above $910 on Wednesday, while eyeing a potential push back toward $1,000.
Key takeaways:
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BNB’s double bottom, falling wedge breakout, and liquidation pressure align to target $1,020–$1,115 in December.
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Failure to hold above $900 could invalidate the bullish setup toward $1,000.
Double bottom predicts BNB over $1,000
BNB’s rebound is supported by a developing double-bottom pattern on the four-hour chart, which has formed near the $800–$820 demand zone.
After printing two similar lows (Bottom 1 and Bottom 2), the price rebounded sharply, suggesting that selling pressure is fading, and dip buyers are stepping in.
BNB/USDT four-hour chart. Source: TradingViewThe structure typically signals a trend reversal if the price breaks above the pattern’s neckline, which is currently near the $900–$920 resistance range.
A confirmed breakout above this region could open a short-term rally toward $1,020 in December, where the 0.382 Fibonacci retracement line converges.
Failure to hold above the neckline would invalidate the setup, raising the odds of BNB dropping toward its 20-4H (green) and 50-4H (blue) exponential moving averages (EMAs) at around $860.
Short liquidation cluster points to $1,020 BNB
BNB’s liquidation heatmap on CoinGlass showed about $112.28 million in short liquidation leverage near $1,020, suggesting price momentum could accelerate toward that level in December.
Binance BNB/USDT liquidation heatmap (1 month). Source: CoinGlassLiquidation heatmaps show where leveraged traders are likely to be forced out of their positions. In this case, many traders appear to be betting against BNB near current levels.
Those short positions begin to incur losses and can be automatically closed by exchanges if the price continues to rise due to an emerging recovery outlook for risk assets.
When shorts are liquidated, traders are compelled to buy BNB, thereby creating additional upward pressure on the price. This dynamic can act as a temporary catalyst, drawing price toward the $1,020 liquidation cluster.
Falling wedge breakout boosts BNB recovery chances
BNB pushed out of a multi-week falling wedge, a structure that typically resolves bullish after prolonged sell-offs.
BNB/USDT four-hour chart. Source: TradingViewOn the four-hour chart, BNB broke above the wedge’s descending upper trendline in late November but briefly pulled back to retest it as support, a common and constructive breakout confirmation.
The successful rebound from this retest suggests buyers are regaining control.
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The wedge’s measured upside target pointed toward the $1,100–$1,115 region in December if the breakout holds. Trader CryptoBull_360 predicted the BNB price to go even higher toward $1,300 or more.
Source: XHowever, a sustained move back below the former resistance-turned-support zone would weaken the bullish setup, risk trapping breakout traders, and delay any sustained recovery above $1,000.
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