BNBUSDT: Long term forecast for BNB

Long term Binance is likely to thrive and their exchange token is quite likely to hit the red box top zone in my chart here.
This is a huge long term advance, and considering the token's advantages if using the exchange, it is quite probable to be reached by Jan/Feb 2022.
Best of luck if trading it.

Cheers,

Ivan Labrie.

Comment:

Still valid.

Comment:

On track.

Comment:

Target #1 hit. Can continue over time, and aim for target #2 or close.

Comment:

Right now I wonder what can disrupt the Binance chain IDOs / BNB trend here. Technicals look like mid term prices could go higher if we get some strength, but long term it's already frothy.

Price sits at the proposed long term top area I had outlined initially.

Comment:

It is breaking higher, target #2 is doable next. Bullish for much longer here (likely straight upwards move for 4 more weeks at least)

Trade closed manually:

I think scaling developments in Ethereum with EIP1559 and flashbots are making the chance of a rotation out of Binance ecosystem and into ETH and DeFi likely. I would get out if still in, and look into buying something else with BNB.

We exceeded my projected top target area, but now risk is way higher than reward...Get out. Cheers!

Trade closed manually