Binance coin (BNB) to $40

On the 2-day chart above price action has increased over 3500% since the 2-day life cross in September 2020. A number of reasons now exist to be bearish, including:

1) The ‘incredible sell’ signal.

2) 2-day Death cross

3) Broken market structure.

4) Double top bearish divergence (8-day chart below)

5) A significant majority of ideas on tradingivew are long.

Is it possible price action rises further? Sure.

Is it probable? No.

A short from $340 is excellent.
Target $40

Ww


8-day double top divergence

Trade active

Trade active:

Over the weekend Binance sent out an e-mail to reassure customers of their reserve status, which included the following sentence:

“This week, our Security team topped up our Binance SAFU Insurance fund to $1 Billion, consisting of BNB, BUSD and BTC.”

BNB???! Haven’t the learned from FTT token, it is not money. Purchase WW token, worth $500. Trust me ;-)

The BNB weekly chart at this moment is printing multiple bearish divergencies. The fund is going to need topping up again and soon.

BNB weekly

FTT token weekly

Comment:

If you've got funds on Binance... well you were warned.

I did an experiment over the weekend and the results are fascinating.

www.patreon.com...inance-74699726?utm_medium...

Trade active:

Weekly death cross confirmed.

Trade active:

Down 30% so far. $130 is the next test.

Trade active:

Binance token confirms resistance as price action exits the bear flag. A correction to under $100 and beyond should now be expected.

2-week