BNB is showing renewed strength after a significant 13% bounce from a local bottom near $800. The token traded above $910 on Wednesday, with technical indicators suggesting that a push toward $1,000 could be on the horizon for December. A combination of classic chart patterns and liquidation data points to a growing bullish case, though key support levels must hold.

The Double Bottom Reversal

A developing double-bottom pattern on the four-hour chart provides a strong foundation for BNB’s rebound. This pattern formed as the price twice tested the $800–$820 demand zone and bounced sharply each time, suggesting that selling pressure is fading as buyers step in to defend the level. A double bottom typically signals a potential trend reversal from bearish to bullish.

The critical level to watch is the pattern’s neckline, located in the $900–$920 resistance range. A decisive break and hold above this area would confirm the reversal and could open the door for a rally toward $1,020. However, if BNB fails to maintain its position above the neckline, the bullish setup would be invalidated, potentially leading to a drop toward its 20-period and 50-period exponential moving averages (EMAs) around $860.

Liquidation Data Reveals Upward Pressure

Analysis of BNB’s liquidation heatmap reveals another potential catalyst for a price increase. Data shows a cluster of approximately $112.28 million in short positions concentrated around the $1,020 mark. This concentration of leverage means that if BNB’s price continues to climb, these traders betting against the asset will be forced to close their positions.

When short positions are liquidated, traders are compelled to buy back BNB, creating a cascade of buying pressure that can accelerate the upward price movement. This dynamic, often called a short squeeze, can act as a powerful magnet, drawing the price toward the significant liquidation cluster at $1,020.

Falling Wedge Breakout Confirms Bullish Bias

Further strengthening the recovery case, BNB recently broke out of a multi-week falling wedge. This chart pattern typically forms during a prolonged sell-off and often resolves with a strong move to the upside. After breaking above the wedge’s upper trendline in late November, BNB briefly pulled back to retest the line as support—a common and constructive sign that confirms buyer control.

The measured target for a falling wedge breakout points to a potential move toward the $1,100–$1,115 region in December. While some analysts project even higher targets, a sustained move back below the former resistance-turned-support zone would weaken the entire bullish structure and could delay any significant recovery.

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