Long

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.

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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.

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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.

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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.

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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.

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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.

mitsandwits

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mitsandwits