BNB topping out in a larger price cycle reversal

G'day Friends, BNB's incredible run is continuing to show signs of needing a rest. The smaller micro price cycle published previously has evolved (as it often does) into a larger sized price cycle where the smaller pattern resides in step 3 of the larger pattern. BNB is currently at step 5 of 7 of the reversal pattern. The slide line is sitting close to horizontal demonstrating the lack of bullish buying and most likely a lot of profit taking.

Comment:

Playing out like a top at the moment. When pt 5 is low like this it shows weakness