P_S_trade

BNB 1D. Will the news about BNB staking keep off the $14 test?

Short
BINANCE:BNBUSDT   Binance Coin / TetherUS
On 6 September, Binance announced the possibility of participating in BNB staking, which caused hype and abnormal coin buy out during the day (compared to other altcoins that day)

Users will be able to placec BNB, BUSD or ARPA in three separate BEL cultivation pools for 30 days starting from 9 September.

On 16 September, Binance will open token trading in pairs with BTC , BNB, BUSD and USDT.

Bella Protocol was created by the ARPA project team. It is positioned as an Aggregated User Interface for existing DeFi protocols. In August, Bella Protocol raised a total $4.5 million in a private token sale of 6% BEL fees. The selling price was $0.75 per coin.

Several factors to consider:
  • an unknown number of staking participants, the more participants the less the reward for everyone in the form of BEL coin

  • trades will begin as early as 16 September and it is not known what the situation will be on the crypto market, perhaps the fall will not be covered by bonuses in the form of BEL coins, since the price of future trades is not known

  • it is another DeFi project that can be pumped up a lot and the BEL coin will be much more expensive than the previous $0.75

  • staking participants can pick up their BNB coins at any time and merge in the market.

Technical analysis
An active buy out on 06.09 with high volumes did not receive support either on 07.09 or 08.09, trading volumes began to decline - it confirms the manipulative growth.

Moreover, daily candles on 06.09 and 07.09 formed a classic
reversal price pattern "Hangman".
Therefore, we believe that the long scenario only after fixing above $23.96.
In all other cases - short, with global targets down $16.50-16.60 and $14.10-14.26.
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