Been monitoring BNB for a couple of days.
TDLR: Correction downwards to 560 at this point will be healthy for sustainable growth.
1. RSI largely overbought on macro timeline
2. Overheated purchases, lessened buying interest
3. Amplified short positions by institution
4. EMA and MA overheated
all points towards a possible correction near term, NFA, personally a good correction to 540-560 region will be healthy.
Sentiments, yearly bullish. Quarterly - good time for a correction.
TDLR: Correction downwards to 560 at this point will be healthy for sustainable growth.
1. RSI largely overbought on macro timeline
2. Overheated purchases, lessened buying interest
3. Amplified short positions by institution
4. EMA and MA overheated
all points towards a possible correction near term, NFA, personally a good correction to 540-560 region will be healthy.
Sentiments, yearly bullish. Quarterly - good time for a correction.