Quickpost Beware FOMO into BNB
Given how quickly the price action came up I would expect a relatively quick top. After we top a return to the 1 line over the next year or so would be a very natural. One thing I am going to be looking for is the pregnant VSTOP on the daily close on the daily time frame. When you start to see pregnant VSTOPS it is a sign that price action is moving very quickly and it is a sign that the trend will be reversing soon or will need a month or so of consolidation. I'll be out around $700ish
If you take the 100billion valuation of Coinbase and divide the number of available BNB into that number you get a price per coin in the mid 500s.
Fib retracements are nice but I believe that their application in terms of an active valuation of an asset is limited.
If you charted gold during the California gold rush no doubt it would be in the fib red zone. Not to mention the hysterical failure of chart analysis in the current rocket launch that is the U.S market given the free money policy of the fed.