BNB testing the weekly 200 average
Updated
📈 On the weekly chart the price is testing the exponential 200 average
🚨In case the scenario continues to be bad, the price could retest the bottom in the blue 🟦 region, going at $ 183, in a 27% drop.
🚨🚨 In an even worse scenario, it could test further down the 🟩61.8% retracement (between $150, $117) and 🟨50% retracement (between $100 and $67).
📈Looking at the daily chart, if the price breaks the orange 🟧rectangle that goes from $250 to $260, we could have a return to the average of 200, at the price of $300:
📰🤥News, FUD, and my reflections
Amidst FUDs that the exchange is not able to honor customer withdrawals, and about the disappearance of the audit firm, the token was one of the ones that dropped the most against tokens from centralized exchanges:
💸 Because of this, there was a record of withdrawals, and this moment is proving to be a great stress test:
📈However, as I analyzed above in the chart, everything is still normal, and even if the price drops further, it would be a perfectly normal correction.
Also, exchanges earn from transaction fees, not the price of tokens.
💬 The narrative of the traditional market and the mainstream media is that 'It is necessary for exchanges to prove that they are capable of honoring cryptocurrency withdrawals'.
🤔 So I ask them the question:
❓Are banks able to honor cash withdrawals?
👨👨👧👧Population: Take a test and withdraw all the money. Now.
🚔See if a war tank appears to protect the bank...
🤡 The difference between Credit Suisse and Binance is that Credit Suisse can break because the government protects it.
I think this is all one big narrative to manipulate the price.
Or an ideal pretext for creating regulation, and for banks to have a monopoly on controlling money.
🚨In case the scenario continues to be bad, the price could retest the bottom in the blue 🟦 region, going at $ 183, in a 27% drop.
🚨🚨 In an even worse scenario, it could test further down the 🟩61.8% retracement (between $150, $117) and 🟨50% retracement (between $100 and $67).
📈Looking at the daily chart, if the price breaks the orange 🟧rectangle that goes from $250 to $260, we could have a return to the average of 200, at the price of $300:
📰🤥News, FUD, and my reflections
Amidst FUDs that the exchange is not able to honor customer withdrawals, and about the disappearance of the audit firm, the token was one of the ones that dropped the most against tokens from centralized exchanges:
💸 Because of this, there was a record of withdrawals, and this moment is proving to be a great stress test:
📈However, as I analyzed above in the chart, everything is still normal, and even if the price drops further, it would be a perfectly normal correction.
Also, exchanges earn from transaction fees, not the price of tokens.
💬 The narrative of the traditional market and the mainstream media is that 'It is necessary for exchanges to prove that they are capable of honoring cryptocurrency withdrawals'.
🤔 So I ask them the question:
❓Are banks able to honor cash withdrawals?
👨👨👧👧Population: Take a test and withdraw all the money. Now.
🚔See if a war tank appears to protect the bank...
🤡 The difference between Credit Suisse and Binance is that Credit Suisse can break because the government protects it.
I think this is all one big narrative to manipulate the price.
Or an ideal pretext for creating regulation, and for banks to have a monopoly on controlling money.
Note
The Stochastic SMI is crossing upwards. Looking at the green arrows, I don't see an opportune moment to make a short.
To contribute to my work:
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⚡Bitcoin Lightning: forwardocean64@walletofsatoshi.com
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