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
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Trade active
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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
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If you've got funds on Binance... well you were warned.
I did an experiment over the weekend and the results are fascinating.
@tradebabaji00a, well one token is a made up like FTT token with no intrinsic value yet used as collateral and the other is a decentralised network.
without_worries
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@tradebabaji00a, Expect it does the opposite. Could you update your analysis?
TheNewsCrypto
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Nice Chart,thanks for sharing
CryptoFrank23
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If we are really going into a bull market like you are suggesting, there is no way BNB will go to 40 USD (unless there is some black swann event).
without_worries
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@CryptoFrank23, Something similar was said on my Chainlink short idea as bitcoin jumped from 6k to 60k, chainlink practically went into reverse. Not everything works the way you think it will.
juarezhernandez164
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Guess you might be right on this one as well , especially with news coming out today
without_worries
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@ArtfulDodger1974, Neither MATIC or BNB returned 160% in the past few months like SFP. There's plenty of others just like it..