BNB/BTC inverted cup and handle confirmed and result FINAL
So the large inverted cup and handle (1) came out confirmed. The push for BTC and the resulting altpocalypse, plus the Binance hack were definitely factors.
so where next?
There was a second smaller IC&H (2) on the way down that had similar volume properties to the first. Added to the 1st one that takes it down even further.
whilst BTC remains dominant BNB is difficult to call but my gut tells me a big drop in BTC will see a corresponding big boost for BNB.
If this behaviour is shown it would go some way to showing a symbiotic relationship between the two, suggesting we long BTC when we short BNB and vice versa.
thanks for looking :)
so where next?
There was a second smaller IC&H (2) on the way down that had similar volume properties to the first. Added to the 1st one that takes it down even further.
whilst BTC remains dominant BNB is difficult to call but my gut tells me a big drop in BTC will see a corresponding big boost for BNB.
If this behaviour is shown it would go some way to showing a symbiotic relationship between the two, suggesting we long BTC when we short BNB and vice versa.
thanks for looking :)