I don't want to short the market, why? I want to see blockchain thrive. This industry has the ability to not only solve issues with the information age's main problem, security, it, in addition fixes the financial sectors conundrum of manipulated inflation. When a lot of people will have you think USDT is the best move, I won't. Even if I am the bull in the China shop.
When things feel a little seller heavy, BNB is where move to as it's not betting against bitcoin. It's a solid alt that provides a lot of value. That utility is, right here, right now, for us, the traders.
One thing I've picked up on is how well it does during corrections, why? People want to reduce trade fees when they are unloading bags of alts, especially the market making bot types, which will be exiting positions during downtrends. Be ahead of them, swim with the whales, and the kraken, who preys on them.
The most recent coinburn was over 1% and although Binance does these quarterly, the reduction of supply may not have too much affect in the short term on price, it's a long term value for the HODLgang. After a few of these burns, it will have a much greater impact, which in time, will cause an already low supply 114m units, to become increasing more scarce, doing so, every 3 months. If price is dictated by the supply in ratio to demand, BNB looks really good here.
I'm making it a point to always keep some BNB on hand. An adhock portfolio balancer, it will help on those days where, alts are bleeding, btc fell a few points, and people wanted to take profits. If things snowball and get worse, it'll pump, which will keep my BTC loving mindset from feeling like, "Why didn't I sell more and BTFD"
Is Altcoin summer coming? Well it is April...and we still have a month or two...
If we see the standard sell off during this time of year that sets up altcoin summer, it could be positioned to be the alt of the month, but a bitcoin rally devalues USDT. So, it's a perfect hedge against both possible scenarios, which makes it the best risk vs reward play I can think of but please, do your own research, take a look at multiple time frames, and come up with your own conclusion on whether or not you should invest, I am not a financial advisor. None the less, I think it's poised to do well, how well?
When we were hovering around the 6.5k region, it was over 18000 sat, and it's currently at 14000 , the 4H RSI shows it very oversold, and the most recent wave has a nice retrace, to the .88 area, all pointing to the fact that it's ready for a bounce in the coming days. This bounce due to the heavy retrace does not really need to correct much at all before working on a 5th wave up. That one was for the fibz, my people.
It truly depends on what BTC does, but my expectations is that we are nearing a short term top, and we will, at some point, correct down into the 7-8k region. I'm not bearish enough to say we will hit 6k anytime soon, as after this most recent wave up, I have faith that the action for BTC is alive and well, and people are at the very least interested in trading it, let's get busy.
As time goes on, more coins will provide value to society, which in turn will be when our industry really breaks out. I don't think this was a bubble, 20k to 6k is a 70% retrace which isn't uncommon, and definitely not crashing.
My overall expectations are that the big dudes that kept this market alive, will take profits, and they deserve it. Those bullish on bitcoin rekt a lot of blockchain belittlers on our path from 6.4k to 10k but from a TA perspective it's time for a retrace. Volatility has been low at the 9k levels, we don't want to overextend into the bearish HODLgang, and shorts are not as juicy as the weak longs at this point, in addition, the price is quite a bit higher than 7.2k which is quite a bit different from our lambo candle dat did werk to da duckboii's.
Banging bears buying bullishness bouncing bitcoin back,
BCG.
#commagang
When things feel a little seller heavy, BNB is where move to as it's not betting against bitcoin. It's a solid alt that provides a lot of value. That utility is, right here, right now, for us, the traders.
One thing I've picked up on is how well it does during corrections, why? People want to reduce trade fees when they are unloading bags of alts, especially the market making bot types, which will be exiting positions during downtrends. Be ahead of them, swim with the whales, and the kraken, who preys on them.
The most recent coinburn was over 1% and although Binance does these quarterly, the reduction of supply may not have too much affect in the short term on price, it's a long term value for the HODLgang. After a few of these burns, it will have a much greater impact, which in time, will cause an already low supply 114m units, to become increasing more scarce, doing so, every 3 months. If price is dictated by the supply in ratio to demand, BNB looks really good here.
I'm making it a point to always keep some BNB on hand. An adhock portfolio balancer, it will help on those days where, alts are bleeding, btc fell a few points, and people wanted to take profits. If things snowball and get worse, it'll pump, which will keep my BTC loving mindset from feeling like, "Why didn't I sell more and BTFD"
Is Altcoin summer coming? Well it is April...and we still have a month or two...
If we see the standard sell off during this time of year that sets up altcoin summer, it could be positioned to be the alt of the month, but a bitcoin rally devalues USDT. So, it's a perfect hedge against both possible scenarios, which makes it the best risk vs reward play I can think of but please, do your own research, take a look at multiple time frames, and come up with your own conclusion on whether or not you should invest, I am not a financial advisor. None the less, I think it's poised to do well, how well?
When we were hovering around the 6.5k region, it was over 18000 sat, and it's currently at 14000 , the 4H RSI shows it very oversold, and the most recent wave has a nice retrace, to the .88 area, all pointing to the fact that it's ready for a bounce in the coming days. This bounce due to the heavy retrace does not really need to correct much at all before working on a 5th wave up. That one was for the fibz, my people.
It truly depends on what BTC does, but my expectations is that we are nearing a short term top, and we will, at some point, correct down into the 7-8k region. I'm not bearish enough to say we will hit 6k anytime soon, as after this most recent wave up, I have faith that the action for BTC is alive and well, and people are at the very least interested in trading it, let's get busy.
As time goes on, more coins will provide value to society, which in turn will be when our industry really breaks out. I don't think this was a bubble, 20k to 6k is a 70% retrace which isn't uncommon, and definitely not crashing.
My overall expectations are that the big dudes that kept this market alive, will take profits, and they deserve it. Those bullish on bitcoin rekt a lot of blockchain belittlers on our path from 6.4k to 10k but from a TA perspective it's time for a retrace. Volatility has been low at the 9k levels, we don't want to overextend into the bearish HODLgang, and shorts are not as juicy as the weak longs at this point, in addition, the price is quite a bit higher than 7.2k which is quite a bit different from our lambo candle dat did werk to da duckboii's.
Banging bears buying bullishness bouncing bitcoin back,
BCG.
#commagang
Comment:
Up a few hundred sat and bitcoin has bounced back up, that means to me, that my expectations are legit. The last time we were at this price with BTC, BNB was a few hundo sat lower, the accumulation, wicks, and in general demand does not lie. We may cross the 10k range soon, but the once believed idea that we would move to 12.8k on this run has been lost for me. There was no lambo candle during the best time for them to squeeze the most amount of shorts. It could come later, let's say if we retraced and all of sudden shorts were to increase by 25% but until then, this feels like a sell off to me.
Comment:
I forgot to mention how the new dust sweeper also provides value for BNB, once again it’s not much, but after the last series of weeks of alt trading, I feel like it is also another positive route for BNB to gain some additional volume in the weeks to come. I feel like a lot of people don’t even know about it yet, and once they add the option for mobile, a larger part of the crowd will.
Comment:
Yeah so it’s not April anymore, but since I can’t edit it, I’ll just laugh at myself for not recognizing that during the editing process. Ohh how time flys when bitcoin is on a rally.