BNB - Looks Due for a Correction, 30% possible.

2020년 11월 2일

Looking at BNB on the weekly chart, I think we're good for a correction down from where we're at to around the $20 level. Which is good because I am running low and trading fees are the bane of my existence.

We see an upward channel, but lower highs with a resistance retest in late October could overcome the September high.

We've been in oversold forever it feels like, MACD is heading to a reversal, and we've got a decent way's to go to down to our EMA's.

As a side note: I suspect we may see Binance face more opposition on the world stage as we see more contemporary players open up their own exchanges and further regulations from governments on cryptocurrency. A big part of BNB's value is obviously in the fact that Binance is currently the largest exchange; but this can change quickly. Eventually the channels will open up for the old money to funnel into crypto and when this happens I suspect Binance will see a massive hit, if the previously mentioned regulations don't take it out ahead of that.

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2020년 11월 2일

노트

I meant couldn't overcome the september high and we've been in overbought forever.

Sleep you say? I'm in.