BNB: Elliott Waves and Asymmetrical Triangles on Varying Degrees
I believe that the WXY Correction is about to be complete. The Y is currently forming and on several degrees of wave analysis, it is likely that the asymmetrical triangle will lead to a breakout of a larger third wave, which coincides with the coiling of the MACD (which should happen in about 1-3 months). The steady uptrend seems to have formed a nice X, but I believe that the asset is currently overvalued and should follow a requisite 535 Zig-Zag; thus, forming the Y. The Stoch RSI seems to confirm this prediction.
Beyond TA, Binance has been steadily moving to keep their word. They produce weekly flash updates, thereby being one of the most transparent crypto companies out there, and their actions seems to be aimed at creating greater value for the token (as seen in their whitepaper, in which they artificially reduce the amount of BNB in circulation, their announcement of attempting to add a fiat gateway, their actions in adding TrueUSD, and their engagement with QLink wherein they've announced that BNB's native token will be used on their platform.)
As a newbie crypto analyst who is always willing to learn, what I've come to understand is that successful projects that create value for their investors tend to commit to actions that will create value (or uses) for their token/coin. It sounds kind of simple, but still, this concept is often overlooked in the crypto community.
If there's anything that you disagree with that is stated above or something that you believe should have been stated, feel free to send me a message and I will see if I can amend that for you.
Thank you and have a wonderful day.
Beyond TA, Binance has been steadily moving to keep their word. They produce weekly flash updates, thereby being one of the most transparent crypto companies out there, and their actions seems to be aimed at creating greater value for the token (as seen in their whitepaper, in which they artificially reduce the amount of BNB in circulation, their announcement of attempting to add a fiat gateway, their actions in adding TrueUSD, and their engagement with QLink wherein they've announced that BNB's native token will be used on their platform.)
As a newbie crypto analyst who is always willing to learn, what I've come to understand is that successful projects that create value for their investors tend to commit to actions that will create value (or uses) for their token/coin. It sounds kind of simple, but still, this concept is often overlooked in the crypto community.
If there's anything that you disagree with that is stated above or something that you believe should have been stated, feel free to send me a message and I will see if I can amend that for you.
Thank you and have a wonderful day.