BNB ready for big expansion?
Months ago this macro structure on BNB and some other exchange tokens caught my attention. That was an unlucky timing for BNB but luckily I didn't waste time in this chop. And in fact except one bad week nothing really happened on BNB. It's been an annoying range play for a long time, which is great for mid/long term chart. I think there is nothing wrong with having some spot BNB. So I wanted to create an idea to keep track of my thoughts on BNB.
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See reaccumulation schematics if you don't understand why this chart is interesting. Now we might be in a creek that goes down for a long time. But I think ~4 years is a really long time for crypto. So I think maybe this lower timeframe downtrend is already over and it's moving to markup phase.Note
And this doesn't look like a downtrend to me.
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Obviously I expect bullish BTC in the same period but not as good as BNB. As I explained countless times macro BTC is not good. Macro BNB is good.Note
See how clean the monthly chart is. BNB whales never panicked, never changed mind, they had a plan all along. If I had to make a list, BNB is one of the top 3 most interesting charts in crypto.
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GT btw perfectly in sync with big brother. That's my second favorite exchange token altough I don't trust as much as BNB because you know it's super small and illiquid compared to BNB.
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It's still painful isn't it :D Pain is necessary.
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Feels like the bullshit around here is more than enough but it's fine as long as it holds ~370, I think it's fine on every timeframe. Below that we can adjust risks and look for different scenarios.
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So 570 holds. BTC finally makes the move. It'd be totally unsurprising for BTC to make the first big move. BNB can lag for weeks but in a few months it'll be better roi i think.Note
I seriously think this will be a run for alts. It's an unfinished business. DOGE and other dogs are my favorites as always. And then there is Monero and BNB.Note
Even ETH can do good against BTC in a few weeks. ETHBTC has been in hell for a long time. It's at levels never seen since '21. You'd expect a correction at least, even if it's not good on the macro.Note
ETH chart is better on the macro if you force it a little bit. BTC chart is a chart idk what it is and I don't care about.
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I'd like to see another test of 570 since it's recently lost. It was a fast move across the market. I'd like to see some pullbacks and slow recoveries.
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Yeah looks like I was wrong about that last retest. Imagine not having some BNB anyway.
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Dear Binance cartel, can you turn off the fucking grid? Thank you.
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