BNBUSDT: Prepare for a Severe Drop, Potential to Fall Below $150
Hi Fellow Traders,
BNBUSDT has broken out of the symmetrical triangle pattern and is possibly heading for a crash. The price is plummeting below the lower trendline and has crossed below the EMA 200 line, signaling a strong bearish trend. To make matters worse, a Bearish Inverted Hammer has appeared after bouncing off the base pattern. This deadly combination of technical factors suggests a sharp decline to the first target area. Then, we might see a brief rebound to the blue zone area before another dive to the second target area.
Negative Sentiments
1. lawsuits filed by the U.S. Securities and Exchange Commission (SEC) against Binance and Coinbase
2. The SEC accuses Binance of selling unregistered securities and Coinbase of offering a lending program that violates securities laws.
3. These lawsuits are part of a broader regulatory crackdown on the crypto industry and they could have significant implications for the future of cryptocurrencies. The possible outcomes of the lawsuits, such as settlements, fines, or bans, and how they could affect the crypto market and innovation.
It is essential to note that the analysis will no longer hold validity once the target/support area is reached.
Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below!
Disclaimer:
"Please note that this analysis is solely for educational purposes and should not be considered as a recommendation to take a long or short position on
BNBUSDT
."
BNBUSDT has broken out of the symmetrical triangle pattern and is possibly heading for a crash. The price is plummeting below the lower trendline and has crossed below the EMA 200 line, signaling a strong bearish trend. To make matters worse, a Bearish Inverted Hammer has appeared after bouncing off the base pattern. This deadly combination of technical factors suggests a sharp decline to the first target area. Then, we might see a brief rebound to the blue zone area before another dive to the second target area.
Negative Sentiments
1. lawsuits filed by the U.S. Securities and Exchange Commission (SEC) against Binance and Coinbase
2. The SEC accuses Binance of selling unregistered securities and Coinbase of offering a lending program that violates securities laws.
3. These lawsuits are part of a broader regulatory crackdown on the crypto industry and they could have significant implications for the future of cryptocurrencies. The possible outcomes of the lawsuits, such as settlements, fines, or bans, and how they could affect the crypto market and innovation.
It is essential to note that the analysis will no longer hold validity once the target/support area is reached.
Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below!
Disclaimer:
"Please note that this analysis is solely for educational purposes and should not be considered as a recommendation to take a long or short position on
BNBUSDT
."
Comment:
USDollar Bullish Outlook also plays an important role in BNBUSDT's Weakness
Trade active:
Yup, it is going downward again :)
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