BNBUSD - sorry but you won't like it
Updated
First of all, we would like to apologize if you are BNB bull and this trading idea made you shaking or you already have a panic attack.
But let's be honest now! BNB pumped like crazy and didn't give it back yet in the current bear market.
Is it impossible for BNB to drop to $45 area? Probably no. It would be 93 % drop. In 2019 bear market ETH dumped over 94 %.
In the current bear market there's a lot of FUDs around. We already saw FTX collapse, rumors about crypto.com insolvency and many more. It looks that CEXes are in trouble .
Perhaps we will see more FUDs regarding Binance and it would be a trigger for BNB price to dump heavily?
We believe that if BNB breaks down below 184$ and there are more / new FUDs around, the price may drop to 45$ again. There's literally no support anywhere between.
Many won't like this trading idea, but it is what it is.
Probably it will take some time to drop so low, but if the bear market for risk on assets were to continue , it will happen sooner or later.
From another hand we expect Binance to be a leader amongs crypto exchanges therefore $45 would be a golden opportunity for a long-term investment.
But let's be honest now! BNB pumped like crazy and didn't give it back yet in the current bear market.
Is it impossible for BNB to drop to $45 area? Probably no. It would be 93 % drop. In 2019 bear market ETH dumped over 94 %.
In the current bear market there's a lot of FUDs around. We already saw FTX collapse, rumors about crypto.com insolvency and many more. It looks that CEXes are in trouble .
Perhaps we will see more FUDs regarding Binance and it would be a trigger for BNB price to dump heavily?
We believe that if BNB breaks down below 184$ and there are more / new FUDs around, the price may drop to 45$ again. There's literally no support anywhere between.
Many won't like this trading idea, but it is what it is.
Probably it will take some time to drop so low, but if the bear market for risk on assets were to continue , it will happen sooner or later.
From another hand we expect Binance to be a leader amongs crypto exchanges therefore $45 would be a golden opportunity for a long-term investment.
Note
On twitter we can observe increasing number of FUDs about BNB / Binance. The idea is still valid.
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