In today's analysis I want to shed some light on the Bitcoin divided by the 1000kg Bananas 🍌 price (PBANSOPUSDM). In other words, how many thousands kilo's of Banana's 🍌 can we buy with 1 Bitcoin.
As seen on the chart below, Banana's 🍌 have been gaining nearly 50% in value during the high inflationary period between Nov 2021 - Dec 2022. Recently, the price of Banana's 🍌 has been quite stable.
After reaching the 11 - 8.50 support area after the FTX collapse, the chart reached a critical support zone. Traders saw this as an opportunity to transfer their Banana 🍌 wealth into BTC, with great results.
In my view, we're rapidly approaching the Summer 2021 support area of 23 - 26 thousand kg Banana 🍌 per BTC. Experienced Banana 🍌 traders will most definitely sell some of their Bitcoins for Banana's 🍌 around this area, so watch out for a reversal.
Also, note that the gains on Banana's have been huge over the high inflation period. On the BTC/USDT chart we're already trading at the Summer 2021 support area, but on this chart we're still ~35% away from it.
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Check the date
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As seen on the chart below, Banana's 🍌 have been gaining nearly 50% in value during the high inflationary period between Nov 2021 - Dec 2022. Recently, the price of Banana's 🍌 has been quite stable.
After reaching the 11 - 8.50 support area after the FTX collapse, the chart reached a critical support zone. Traders saw this as an opportunity to transfer their Banana 🍌 wealth into BTC, with great results.
In my view, we're rapidly approaching the Summer 2021 support area of 23 - 26 thousand kg Banana 🍌 per BTC. Experienced Banana 🍌 traders will most definitely sell some of their Bitcoins for Banana's 🍌 around this area, so watch out for a reversal.
Also, note that the gains on Banana's have been huge over the high inflation period. On the BTC/USDT chart we're already trading at the Summer 2021 support area, but on this chart we're still ~35% away from it.
🍌🍌🍌🍌🍌
Check the date
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🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Related publications
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.