BNB Potentially Down -70%
Updated
Watching BNB for quite some time now waiting for the coin to drop. Not because I have anything against Binance. It's just the only major coin that hasn't fallen to its lustrum current:
That tells me it's being artificially inflated. Great opportunity to look for shorting opportunities.
Now is the first time I can see multiple signs that now may be the time:
Low Tide Signal
High tides (H) show when there is upward pressure. Low tides (L) during downtrends. BNB is showing the first L since September '19. Back then, the price fell -33%.
Ebb Flow Confirmed
Flow indicated back in March '23 that liquidity was falling (Ebb). We got a short-term bounce in April, then a dip in May; both confirmed. The bounce in June was short lived (so far, at least).
Topping Candles
Just for good measure, we can see that Energy is showing topping markers indicating resistance.
Season (Almost) Crossing Year
The coup de grâce is the seasonal average about to cross the yearly. This usually coincides with about a -50% drop in BNB -- and by usually I mean 100% of the time.
So that's my two cents and I'll be shorting BNB for the next while. I'd love to hear what you're seeing.
That tells me it's being artificially inflated. Great opportunity to look for shorting opportunities.
Now is the first time I can see multiple signs that now may be the time:
Low Tide Signal
High tides (H) show when there is upward pressure. Low tides (L) during downtrends. BNB is showing the first L since September '19. Back then, the price fell -33%.
Ebb Flow Confirmed
Flow indicated back in March '23 that liquidity was falling (Ebb). We got a short-term bounce in April, then a dip in May; both confirmed. The bounce in June was short lived (so far, at least).
Topping Candles
Just for good measure, we can see that Energy is showing topping markers indicating resistance.
Season (Almost) Crossing Year
The coup de grâce is the seasonal average about to cross the yearly. This usually coincides with about a -50% drop in BNB -- and by usually I mean 100% of the time.
So that's my two cents and I'll be shorting BNB for the next while. I'd love to hear what you're seeing.
Note
Current buy signal in crypto is causing a bounce in BNB. Will be re-shorting once a pause signal shows up.
"Even the wise cannot see all ends." - Gandalf
Connect with me on Twitter. I'm always open to discuss.
Connect with me on Twitter. I'm always open to discuss.
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