BNBBTC - when everything says bear, shout 'BULL!'
First TA on BNB!
Sorry to be the 'BEAR'-ER of bad news, but its looking bearish
Large descending channel has been printed in the past few months of massive volatility, leading up from binance chain and binance dex. 'SELL THE NEWS' right?
Anyway, just looking at the technicals,
BNB has consistently printed lower lows and lower highs, with little signs of divergence forming on the RSI or MACD
This indicates the downtrend is maintained
Also, we observe price action failing the 200MA (in red), retested it, and failed again.
I am not suggesting that BNB will not recover/reverse, as it currently sits on a key level of support. Will this be an early entry on a massive reversal pattern?
I say nahhhh, i'll wait for major greed levels :)
Or just wait for the market to stabilise to form a good zone of consolidation before any major moves.
Sorry to be the 'BEAR'-ER of bad news, but its looking bearish
Large descending channel has been printed in the past few months of massive volatility, leading up from binance chain and binance dex. 'SELL THE NEWS' right?
Anyway, just looking at the technicals,
BNB has consistently printed lower lows and lower highs, with little signs of divergence forming on the RSI or MACD
This indicates the downtrend is maintained
Also, we observe price action failing the 200MA (in red), retested it, and failed again.
I am not suggesting that BNB will not recover/reverse, as it currently sits on a key level of support. Will this be an early entry on a massive reversal pattern?
I say nahhhh, i'll wait for major greed levels :)
Or just wait for the market to stabilise to form a good zone of consolidation before any major moves.