BNBUSD more consolidation but long-term cyclically targets $2000
Binance Coin (BNBUSD) has been in Accumulation Mode since early March (March 11 1W candle), trading sideways within initially the Mayer Multiple Bands (MMB) Mean (black trend-line) and the 1st SD above (grey trend-line) and more recently the latter and the 1W MA50 (blue trend-line).
With reference to the 1W MA50 in particular, not only has it been the support since the late December 2023 bullish break-out but was successfully tested and held on the most recent pull-back, the August 05 Low.
This solidifies its position as the Support throughout the remainder of the Bull Cycle, which was in fact also the case during the previous Cycle where BNB had the final accumulation phase (blue ellipse) from September to December 2020, again within the same MMB - 1W MA50 zone, which initiated the most aggressive part of the Cycle (parabolic rally).
That rally peaked on the MM 3rd SD above (red trend-line) so a $2000 price tag, which will 'only' come close to the 2nd SD (orange trend-line), appears to be a realistic Target.
In addition, the Sine Waves serve as an excellent tool in roughly estimating the timing of the Cycle's peak, as it was very efficient during the previous two Cycles. That could be anywhere around June 2025.
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With reference to the 1W MA50 in particular, not only has it been the support since the late December 2023 bullish break-out but was successfully tested and held on the most recent pull-back, the August 05 Low.
This solidifies its position as the Support throughout the remainder of the Bull Cycle, which was in fact also the case during the previous Cycle where BNB had the final accumulation phase (blue ellipse) from September to December 2020, again within the same MMB - 1W MA50 zone, which initiated the most aggressive part of the Cycle (parabolic rally).
That rally peaked on the MM 3rd SD above (red trend-line) so a $2000 price tag, which will 'only' come close to the 2nd SD (orange trend-line), appears to be a realistic Target.
In addition, the Sine Waves serve as an excellent tool in roughly estimating the timing of the Cycle's peak, as it was very efficient during the previous two Cycles. That could be anywhere around June 2025.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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