Binance coin: BNBBTC - Limited RR
Updated
Bullish: BNB has been a huge success story, is clearly no.1 and there are good plans to give the token further demand/utility. Bullish stories like 90% of Binance staff accepting BNB as payment (is it literally fiat equivalent or is there an incentive uplift/hedge allowance?) & foundations using BNB to pay for projects.
Bearish: History has shown each alt cycle heralds a new king exchange - polo/trex/binance/whats next? Many new entrants dilutes market share - coinbase gearing up for multi-pairs, trex added fiat, polo has big money backers now. Many exchanges will be waiting for clear bull market to re-launch/market. Quality of mid/small cap Binance tokens questionable - ICO/token/POS heavy.
TA: There is a very clear H&S forming on mid/long times. Short times more bullish.
Conclusion - not tempted to get in but wouldnt short unless H&S completes and turns out to be valid. If it does and you think BNB can remain dominant then the .618 offers an entry / I will be waiting for .786 and ok to miss this trade.
Bearish: History has shown each alt cycle heralds a new king exchange - polo/trex/binance/whats next? Many new entrants dilutes market share - coinbase gearing up for multi-pairs, trex added fiat, polo has big money backers now. Many exchanges will be waiting for clear bull market to re-launch/market. Quality of mid/small cap Binance tokens questionable - ICO/token/POS heavy.
TA: There is a very clear H&S forming on mid/long times. Short times more bullish.
Conclusion - not tempted to get in but wouldnt short unless H&S completes and turns out to be valid. If it does and you think BNB can remain dominant then the .618 offers an entry / I will be waiting for .786 and ok to miss this trade.
Note
Possible completion on horizon. Time to watch.
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