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.
BNB’s double bottom, falling wedge breakout, and liquidation pressure align to target $1,020–$1,115 in December. Failure to hold above $900 could invalidate the bullish setup toward $1,000.
Double Bottom Pattern Signals Potential for Over $1,000 BNB
BNB’s recent 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, the price has rebounded sharply, suggesting that selling pressure is diminishing and dip buyers are actively entering the market.
This chart structure typically signals a trend reversal if the price successfully breaks above the pattern’s neckline, which is currently situated near the $900–$920 resistance range. A confirmed breakout above this region could initiate a short-term rally, potentially pushing BNB toward $1,020 in December, where the 0.382 Fibonacci retracement line converges. However, a failure to hold above the neckline would invalidate this bullish setup, increasing the likelihood of BNB dropping toward its 20-4H (green) and 50-4H (blue) exponential moving averages (EMAs), which are currently around $860.
Short Liquidation Cluster Points to a $1,020 Target
Analysis of BNB's liquidation heatmap on CoinGlass reveals approximately $112.28 million in short liquidation leverage concentrated near the $1,020 level. This suggests that price momentum could accelerate towards that figure in December. Liquidation heatmaps illustrate areas where leveraged traders are at risk of being forced out of their positions. In this scenario, a significant number of traders appear to be betting against BNB around its current price levels.
As these short positions begin to incur losses, they can be automatically closed by exchanges if the price continues to rise, especially with an emerging recovery outlook for risk assets. The forced buying activity from liquidating short positions can act as a temporary catalyst, driving the price upwards and potentially towards the $1,020 liquidation cluster.
Falling Wedge Breakout Enhances BNB Recovery Prospects
BNB has broken out of a multi-week falling wedge, a chart pattern that typically resolves with a bullish move after extended sell-offs. On the four-hour chart, BNB surpassed the wedge's descending upper trendline in late November. It subsequently experienced a brief pullback to retest this trendline as support, a common and constructive confirmation of a breakout.
The successful rebound from this retest indicates that buyers are regaining control of the market. The wedge's measured upside target projected a move toward the $1,100–$1,115 region in December, assuming the breakout holds. One trader, CryptoBull_360, has predicted BNB's price to potentially reach even higher, toward $1,300 or more.
However, a sustained move back below the former resistance-turned-support zone would weaken the bullish setup. This could risk trapping breakout traders and delay any sustained recovery above the $1,000 mark.