Today news came out about Binance is no longer allowed usage in the United States, and a LOT of outlets have been spreading misleading FUD. First, Binance will still be available to people in the United States, just on a separate exchange (www.binance.us/) that will still function very well, CZ has been planning for this exact scenario. This once again proves how ahead of all other exchanges Binance is.
Now, it is time to take advantage of the FUD and scalp (or accumulate) some BNB. I have been a long supporter of Binance for 3-4 years, and this is not the end for me (a US citizen). We have seen an incredible drop over 12% today, more than I have seen BNB drop in a while. What am I doing right now? Spotting some great buying opportunities for when the FUD slowly fades away and BNB gets back on track.
That being said, I'm not looking at the technical analysis too much since this is heavily based on fundamentals and news. Although to note, take a look at the huge oversold RSI from just today, and how it is starting to curve up. Smart people are beginning to accumulate, I will do the same.
No targets right now, set stop losses 5-7% below your entry, and accumulate in small amounts. I would say invest a little now, if it drops more a little later, and if it looks like it will bottom out put in some more. Don't just put all your Bitcoin in BNB this exact moment as we can expect possible drops.
I also say no targets because BNB is a long term hold for me. It has been for years, and the platform is taken care of well so I believe it will only keep going up for the near future.
Please be careful with trades and SET A STOP LOSS. If you enjoy the analysis and want to see more, please feel free to put a like on the chart and follow my account for more!
Now, it is time to take advantage of the FUD and scalp (or accumulate) some BNB. I have been a long supporter of Binance for 3-4 years, and this is not the end for me (a US citizen). We have seen an incredible drop over 12% today, more than I have seen BNB drop in a while. What am I doing right now? Spotting some great buying opportunities for when the FUD slowly fades away and BNB gets back on track.
That being said, I'm not looking at the technical analysis too much since this is heavily based on fundamentals and news. Although to note, take a look at the huge oversold RSI from just today, and how it is starting to curve up. Smart people are beginning to accumulate, I will do the same.
No targets right now, set stop losses 5-7% below your entry, and accumulate in small amounts. I would say invest a little now, if it drops more a little later, and if it looks like it will bottom out put in some more. Don't just put all your Bitcoin in BNB this exact moment as we can expect possible drops.
I also say no targets because BNB is a long term hold for me. It has been for years, and the platform is taken care of well so I believe it will only keep going up for the near future.
Please be careful with trades and SET A STOP LOSS. If you enjoy the analysis and want to see more, please feel free to put a like on the chart and follow my account for more!