A double bottom, falling wedge breakout, and a large cluster of short liquidations are increasing the probability of BNB reclaiming the $1,000 level in December.
BNB is showing renewed strength after bouncing more than 13% from a local bottom near $800. On Wednesday, the token traded above $910, setting the stage for a potential retest of the $1,000 psychological barrier in the days ahead.
A developing double-bottom pattern on the four-hour chart is currently the strongest bullish signal. The structure formed within the $800–$820 demand zone, where two nearly identical lows sparked a sharp rebound. This pattern typically indicates a trend reversal when price manages to break above the neckline, now located in the $900–$920 resistance band.
Bullish patterns and liquidity dynamics strengthen BNB’s upside outlook
A confirmed breakout above that zone could trigger a short-term rally toward $1,020, aligning with the 0.382 Fibonacci retracement level. However, failure to stay above $900 could weaken the setup and push BNB back toward the 20-4H and 50-4H exponential moving averages, both converging near $860.
BNB’s liquidation heatmap adds further support to the bullish scenario. Data shows approximately $112.28 million in short liquidations poised around $1,020, suggesting that a continued rise in price could force bearish traders to exit their positions. As these shorts are liquidated, they must buy back BNB—naturally driving the price higher.
This dynamic can create a self-reinforcing upward movement, pulling the price toward the liquidation cluster and acting as a temporary accelerator during strong market recovery phases.
Meanwhile, the breakout from a multi-week falling wedge offers another positive signal. In late November, BNB broke above the wedge’s descending trendline and retested it as support—a constructive confirmation typically seen before further upside. The successful rebound from this retest indicates buyers are regaining control.
If the wedge breakout holds, the pattern’s projected target ranges from $1,100 to $1,115 in December. Some traders even forecast a move toward $1,300, but such an advance would depend on maintaining support above the previous resistance zone and preserving current momentum.
