GlenGoodman
Long

BINANCE COIN (BNB) IS GOING PARABOLIC!

BINANCE:BNBUSDT   Binance Coin / TetherUS
Parabola = Danger.
This warning is for anyone thinking of FOMO-buying at this late stage.
Remember how Bitcoin went parabolic in late 2017? Remember how I warned about this in a Facebook post on December 24 2017? No? Well then you should have been following me ;-)
The point is, parabolas are always danger signs towards the end of a trend. BNB is nearly at its all-time high and this parabola could well burst through the line, or it could reverse because of the strong resistance. But either way, buying into the last stage of a trend is a dangerous business. If you do it, watch the market carefully for a possible swift and devastating price collapse. Hopefully that won't happen, but you've been warned. For now, I remain long.
Comment: Well, the parabola is broken (about 5 minutes after I posted this idea!)
But the correction is shallow so far, so I'm still holding. I'll sell if it falls below the support level at $22.
Comment: Still banging and bumping against the all-time-high. And I still have my finger hovering over the SELL button......
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Hey @Andrew_Kay do you like the timing of this post? ;-)
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Andrew_Kay GlenGoodman
@GlenGoodman, Absolutely, as you said in your analysis "buying into the last stage of a trend is a dangerous business" everyone should understand why you said that. Bcz it can reverse anytime
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GlenGoodman Andrew_Kay
@Andrew_Kay, Yes, and luckily this looks like a shallow reversal so far, not a big collapse. Hopefully it will recover and retest the all time high again. I'm still holding.
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Andrew_Kay GlenGoodman
@GlenGoodman, it looks like a little pull back after a big run, and this can be a good opportunity to buy BNB as well.
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Haha the moment I posted this Idea, down it went. Too early to call it a 'serious' crash, so I'm still long, but I'll be watching closely.
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