Home Altcoin High Crypto Analyst Says Binance Coin (BNB) Flashing ‘Savage’ Bearish Sign – Right here Are His Targets

High Crypto Analyst Says Binance Coin (BNB) Flashing ‘Savage’ Bearish Sign – Right here Are His Targets

0
High Crypto Analyst Says Binance Coin (BNB) Flashing ‘Savage’ Bearish Sign – Right here Are His Targets

[ad_1]

A broadly adopted crypto dealer is warning that Binance Coin (BNB) is on the verge of collapsing in opposition to Bitcoin (BTC).

Bluntz tells his 224,500 followers on the social media platform X that the BNB/BTC buying and selling pair has fashioned a bearish swing failure sample (SFP).

A swing failure sample in an uptrend sometimes happens when worth makes a sequence of upper highs and better lows, however sooner or later fails to make new highs and sell-side strain begins to mount, hinting at a bearish reversal.

Says Bluntz,

“BNB continues to be high of the precedence checklist for shorts. [There was a] savage SFP on BNB/BTC yesterday and the USD pair merely seems like an A-B-C [correction] up nonetheless.

Additionally, [BNB] has probably the most horrendous excessive timeframe chart for my part.”

Image
Supply: Bluntz/X

An ABC correction, a part of Elliot Wave idea, is an easy three wave transfer in the wrong way of the pattern. On this case, Bluntz thinks BNB’s energy in late August was a correction upward in its long run downtrend.

Trying on the dealer’s chart, he means that BNB may decline beneath the important thing $200 degree round September 2nd, retest the $210 degree close to September 4th after which decline to about $196 by September sixth.

The dealer’s bearish BNB prediction dates again greater than eight months in the past.

He beforehand stated,

“I feel the five-year uptrend in BNB/BTC has come to an finish. IMO it comes down at minimal one other 40%-50% from right here. [I] genuinely don’t even know the place that will put the BNB/USD worth however I’ll be avoiding this coin just like the plague from right here. GL (good luck) for those who maintain it.”

He additionally urged months in the past that BNB may decline to as little as $80, which might be a greater than 63% decline from its present worth.

“If I needed to guess, USD pair is heading to between $80-$100.”

BNB is buying and selling for $217 at time of writing, down 2.3% within the final 24 hours.

Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox

Verify Worth Motion

Observe us on Twitter, Fb and Telegram

Surf The Every day Hodl Combine

Verify Newest Information Headlines

&nbsp

Disclaimer: Opinions expressed at The Every day Hodl will not be funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal threat, and any loses it’s possible you’ll incur are your duty. The Every day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please be aware that The Every day Hodl participates in affiliate internet marketing.

Generated Picture: Midjourney



[ad_2]

LEAVE A REPLY

Please enter your comment!
Please enter your name here