~Do Not Make Any Trades Only Based On This Analyse. Do Your Own Research First.~ two scenarios. green have 40% chance if we got lucky and market hold the green support line and red have 60% chance to form the pattern. it's all depends on BTC movement and Whales. expected time: ~20-25 Days. i personally think market is not going to break the RED area's resistance and its very unlikely for BNB . Good Luck.
Trade closed: target reached
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we hit the target but WAY too long after :D anyway... we exit this trade as well as others
Agreed. Always good to watch BNB. Almost acts as an indicator as to where the market is moving due to its reduced fees when used to purchase alt coins. Often, you can see BNB trailing BTC, as profits start moving from BTC to BNB and then to the alt coins. Hard to say how reliable this method can be; however, the past 6 weeks I've had the privilege of being able to keep an eye on the market as I'm recently fully self employed. I noticed the trend quickly when BNB had first come around. Doesn't take ANY ability to conduct TA to see the trend. Just same basic logic and critical thinking as well as proper timing....
The 'BALT Dance' has already been recognized by most. BTC overall influence on the market may fluctuate. Still, it inarguably continues to reign control. Watch for BTC corrections though. During these times, while many of the ALTs will trend similarly to BTC, BNB will often see the opposite reaction, as traders and investors alike seek safety for their profits. And as you watch BNB start what we would normally label as a 'retrace' or 'correction,' you can often see the ALT coins move, if even for just a small time period, in the opposite direction, as would make sense when ppl dump their BNB into other coins.
And yes, of course, there will be times when all three (BTC, ALTs and BNB) all move the same direction. Keep an eye on the relationship though and trend between the three. The relationship of their price action could possibly serve as major indicator, as it could provide major insight as to where the profit money is going after an impulsive move.
Are people cashing profits or are they reinvesting their money to continue building profits?
Of course, there won't be enough data to confirm OR reject this idea for another 5-10 years. Crypto market is too new. Historical data is NOT enough to study "previous" trends. And, in fact, it is SO new, that, it should not be surprising if in 25 years to come, The Elliot Wave Theory has a competitive or alternative way of counting waves or buy/sell and analyzing market trends and emotions.
The 'BALT Dance' has already been recognized by most. BTC overall influence on the market may fluctuate. Still, it inarguably continues to reign control. Watch for BTC corrections though. During these times, while many of the ALTs will trend similarly to BTC, BNB will often see the opposite reaction, as traders and investors alike seek safety for their profits. And as you watch BNB start what we would normally label as a 'retrace' or 'correction,' you can often see the ALT coins move, if even for just a small time period, in the opposite direction, as would make sense when ppl dump their BNB into other coins.
And yes, of course, there will be times when all three (BTC, ALTs and BNB) all move the same direction. Keep an eye on the relationship though and trend between the three. The relationship of their price action could possibly serve as major indicator, as it could provide major insight as to where the profit money is going after an impulsive move.
Are people cashing profits or are they reinvesting their money to continue building profits?
Of course, there won't be enough data to confirm OR reject this idea for another 5-10 years. Crypto market is too new. Historical data is NOT enough to study "previous" trends. And, in fact, it is SO new, that, it should not be surprising if in 25 years to come, The Elliot Wave Theory has a competitive or alternative way of counting waves or buy/sell and analyzing market trends and emotions.
...WOW...THAT GOT DEEP...AND DETAILED LOL