Will BNB Price Reclaim $1,000 in December?

BNB (BNB) is exhibiting renewed bullish momentum after recovering over 13% from a local low around $800. It traded above $910 on Wednesday, with eyes set on a potential move back toward $1,000.

Key takeaways:

• The double bottom pattern, falling wedge breakout, and liquidation pressure suggest a target of $1,020–$1,115 in December.

• Failure to maintain above $900 could undermine the bullish scenario targeting $1,000.

Double bottom forecasts BNB over $1,000

BNB’s rebound is backed by a forming double-bottom pattern on the four-hour chart, appearing within the $800–$820 demand area.

Following two similar lows (Bottom 1 and Bottom 2), the price rebounded sharply, indicating waning selling pressure and active dip buyers.

This structure generally signals a trend reversal if the price crosses above the neckline, which is currently around the $900–$920 resistance range.

A confirmed breakout above this region could spark a short-term upswing toward $1,020 in December, aligning with the 0.382 Fibonacci retracement level.

A failure to hold above the neckline would invalidate this structure and increase the likelihood of BNB dropping toward its 20-4H (green) and 50-4H (blue) exponential moving averages (EMAs) at around $860.

Short liquidation cluster suggests $1,020 BNB

BNB’s liquidation heatmap on CoinGlass indicates about $112.28 million in short liquidations near $1,020, implying that price momentum could accelerate toward that mark in December.

Liquidation heatmaps reveal areas where leveraged traders may be forced to exit their positions. Currently, many traders seem to be betting against BNB at these levels.

Such short positions begin to incur losses, leading exchanges to close them automatically if the price continues to rise amid a recovering outlook for risk assets.

When shorts are liquidated, traders are compelled to purchase BNB, creating further upward pressure on the price. This dynamic can serve as a temporary catalyst, driving prices toward the $1,020 liquidation cluster.

Falling wedge breakout enhances BNB recovery prospects

BNB has broken out of a multi-week falling wedge, a formation that typically resolves bullish after extended downturns.

On the four-hour chart, BNB exceeded the wedge’s upper descending trendline in late November but briefly pulled back to retest it as support, a common validation for breakouts.

The successful rebound from this retest signals that buyers are reclaiming control.

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The measured upside target of the wedge points toward the $1,100–$1,115 area in December if the breakout persists. Trader CryptoBull_360 predicted that BNB could reach even higher, toward $1,300 or beyond.

However, a sustained decline back below the former resistance-turned-support zone could weaken the bullish outlook, risking the entrapment of breakout traders and delaying any significant recovery above $1,000.