BNB topping out in a larger price cycle reversal
Updated
G'day Friends, BNB's incredible run is continuing to show signs of needing a rest. The smaller micro price cycle published previously has evolved (as it often does) into a larger sized price cycle where the smaller pattern resides in step 3 of the larger pattern. BNB is currently at step 5 of 7 of the reversal pattern. The slide line is sitting close to horizontal demonstrating the lack of bullish buying and most likely a lot of profit taking.
Note
Playing out like a top at the moment. When pt 5 is low like this it shows weakness 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.