Just about one year ago BNB was in a similar situation as today. Take a look at the chart:
- after a strong correction there has been in both cases a slow but steady rise in price
- interestingly, the higher lows’ trendlines (red dashed lines) have in both cases precisely the same slopes
- prices are in both cases some 30-35% below the previous ATH
- for the pitchfork drawn for the entire bull run starting from the Covid lows of March 2020, the price is in both cases on the low (blue) border of the pitchfork
- RSI is around 50 and volume low for both cases
And what happened one year ago. Nothing much, BNB just started making a 20x move.
I have no idea what will happen this time. BNB, however, definitely looks strong. There is some recent hidden bullish divergence suggesting continuation of the bullish price action. If the previous behavior is repeated then BNB would now deviate from the dashed trendline, take over the ATH around New Year, and after some retests of the ATH-region start a serious rock ’n roll in January.
Take care and trade with care
Cheers
Whoop
- after a strong correction there has been in both cases a slow but steady rise in price
- interestingly, the higher lows’ trendlines (red dashed lines) have in both cases precisely the same slopes
- prices are in both cases some 30-35% below the previous ATH
- for the pitchfork drawn for the entire bull run starting from the Covid lows of March 2020, the price is in both cases on the low (blue) border of the pitchfork
- RSI is around 50 and volume low for both cases
And what happened one year ago. Nothing much, BNB just started making a 20x move.
I have no idea what will happen this time. BNB, however, definitely looks strong. There is some recent hidden bullish divergence suggesting continuation of the bullish price action. If the previous behavior is repeated then BNB would now deviate from the dashed trendline, take over the ATH around New Year, and after some retests of the ATH-region start a serious rock ’n roll in January.
Take care and trade with care
Cheers
Whoop