A few loose brush lines on this BNB US Tether chart shows a possible HS forming with lots of recent action just around 12 and 13.
My belief is that the Binance traders will keep this coin in this general range for awhile as the coin is mostly used for saving on the cost of trading and is valuable to that extent.
Also, from that perspective, the coin becomes less valuable ( as a means of saving on costs of trading ) as it goes up beyond a certain level.
But then again...as traders compete to own BNB then the price will resist falling.....
Last recent highs managed to hit 13.60 to nearly 15.
What am i missing ? Could BNB actually moon to 30 or even more .
I personally am not betting that strategy....i am long but i expect plenty of pull backs and oppportunities to buy dips.
This chart, as always, makes more sense when compared to other timeframes....
My belief is that the Binance traders will keep this coin in this general range for awhile as the coin is mostly used for saving on the cost of trading and is valuable to that extent.
Also, from that perspective, the coin becomes less valuable ( as a means of saving on costs of trading ) as it goes up beyond a certain level.
But then again...as traders compete to own BNB then the price will resist falling.....
Last recent highs managed to hit 13.60 to nearly 15.
What am i missing ? Could BNB actually moon to 30 or even more .
I personally am not betting that strategy....i am long but i expect plenty of pull backs and oppportunities to buy dips.
This chart, as always, makes more sense when compared to other timeframes....