BNB is doing a descending bearish triangle and if we add BTC is very lazy losing its time in 17K , the sp broke down the rising wedge that started in october give us a bad combination for the next weeks not just for BNB , for the whole crypto.
this pattern has been developing since October and is now in the last phase (at the weekly downtrend line) , we can expect rejection in that zone and the collapse of the bullish structure .
Obviously this is my speculation and in the markets everything can happen
RSI , MACD , Squeeze momentum are making bearish divergences in many TF mostly 1D , and the upcoming news ( inflation rate .etc ) those fundamentals may cause volatility and tramps ( usually the first hour) but the trend still bearish
Recent inflation reports are very bullish and give us the possibility that the Fed will stop the wild interest rate adjustment , but remember 2008 the Fed do the same and after when everyone believes was the end , the collapse start .
In this case i'm not talking about a flash crash is more an economic contraction and that means we can't believe in these...
BNB is in an important zone and this would be the last bearish trade in this coin ,if the stop is reached would mean BNB is bullish in the daily chart ,but i'm still bearish even if the 15% of my invest are in BNB because btc , eth and many huge cryptos are literally in resistance and showing weakness , the SP is going up without volume and making a rising wedge...
Dot is in a support that now is a resistance so as we know if a lvl that before was a support or resistance is broke the next time that the que price goes to the lvl is the opposite ,that's the case of DOT the support works well but now isn't a support anymore so that means a long trade is absurd just for where is the price right now .
The DJI after this mini-bull run makes many people get confused about the economy and, if we are in the bottom of the correction but the things is this movements aren't natural and are made just for make think the people the situation is under control and ¨this gonna be temporary¨ but the reality is this are just the first consequences of 2008/2020 and the massive...
The US500 (SPX) is making a rising wedge and this is serious because the lately bullish movement it has no volume and as we know if the volume doesn't follow the movement isn't sostenible in the time and finish collapsing.
This zone is specially delicated for how long was the time that the price was lateralizing there , and many indicators are showing bearish divergence so at the end is obviously a strong movement would come in the next days but today and tomorrow the price has higher probabilities to be between the 590/560B .
The problem with the fomo and btc is people sold their BTC to buy the new 10X and that's the problem with crypto.
The last days the fundamentals are bullish for many cryptos but Btc is not the case and even that many of these are in important levels (resistance).
with the recent news about elon buying twitter BNB was affected to making the price of BNB goes up but this news does end with the principal fundamental that is the bear market.
aint not saying BNB is bad im saying the news about twitter .etc
Many cryptocurrencies are in important levels ( in the majority of the cases resistance) in the case of BNB we're in a resistance and this one starts from 288 to the psychologic number 300.
in lower TMF like 30m the entry for a short trade would be between 288/291.
And as you can see the stop loss in this case is more short because BNB isn't too volatile...
lately we saw how the price of some cryptos goes up but in the case of cardano is very interesting because the price is in a important level that was a support for months but now is a resistance .
for speculation this is an pullback for liquidate some short positions