dailyhodl online news :
A widely followed crypto trader is warning that Binance Coin (BNB) is on the verge of collapsing against Bitcoin (BTC).
Bluntz tells his 224,500 followers on the social media platform X that the BNB/BTC trading pair has formed a bearish swing failure pattern (SFP).
A swing failure pattern in an uptrend typically occurs when price makes a series of higher highs and higher lows, but at some point fails to make new highs and sell-side pressure begins to mount, hinting at a bearish reversal.
Says Bluntz,
“BNB is still top of the priority list for shorts. [There was a] savage SFP on BNB/BTC yesterday and the USD pair simply looks like an A-B-C [correction] up still.
Also, [BNB] has the most horrendous high timeframe chart in my opinion.”
https://dailyhodl.com/Bluntz/x.Source
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