A couple of days ago, I wrote about BNB, and why it would MOON...
@luueetang/15th-binance-coin-burn-bnb
The price was 300 USD and around 10 days ago, it was at 242 USD, and in January, it was about 30USD.
Binance coin is one of the best performing cryptos right now with a market capitalization of around 59 Billion USD.
Coingecko, is a Malaysian startup, btw.
BNB analysis
This is my own analysis on Tradingview. I usually also watch analysis videos, maybe 5 to 6 different onces and adjust my own charts accordingly. This is to ensure that, I know why I am buying any particular crypto and the reasons behind it.
Charts look beautiful don't they? A few bullish catalyst for BNB that I can point out which are:
Price broke out through its asymetrical triangle. Ever since, it broke, it formed a really bullish flag penant, as of yesterday, I saw the price break through its resistance, This particular flag penant is in most crypto charts at the moment, I am pretty sure, a huge move is coming.
ETC/ BTC reversal
From what I can see from the charts, Bitcoin is going to at the moment just chill at the 58k to 60k range to let Ethereum and altcoins rally. It doesn't mean Bitcoin has lost steam. It has roughly entered an accumulation range. The range to watch out for on the ETC/BTC chart is the 0.55 range which is the resistance level. If that breaks, we are going to have a super cycle for altcoins, but we may consolidate at that level.
BNB bull flag penant broken
The question is, where is the price going to consolidate at after the huge rise?
From the break out, the next short term resistance is around 383 USD, then finally a longer consolidation at around 450 - 460 USD. If this price target is met before BNB's coin burn event, there is a huge likelyhood, BNB is gonna go to a 500 to 600 USD range, Fomo kicks in high. It is a huge contender to Ethereum.
I am switching some of my BNB to ETH at around May, if I see a huge correction, as alot of Ethereum related rollouts are scheduled for launch in July. Always buy before events come. I have both trading positions and hodl positions. The Hodl positions, I do not touch, I trade using my trading positions to reduce FOMO if in the case, my analysis comes out wrong.
Have a great day and stay safe.
@luueetang