✴️ Binance Coin Still Bearish; Short-Squeeze = 50% Drop!

Notice that this is the same chart setup we used before; Binance Coin bearish potential remains intact.

The bearish potential is intact because BNBUSDT is still moving within a lower high compared to 16-March.

Notice that the peak is very close to Bitcoin's; What one does, the rest follows!

We do have a volume breakout in the last two days and the MACD looks good but the volume is too low. (Mixed signals.)

Here we might be too early but we have the other pairs as confirmation and the fact that this was a very strong and sudden move...

Let's make it simple:
➖ Bearish below $650; bullish above.

👉 As long as BNBUSDT trades below $650 monthly, remain short.

👉 If BNBUSDT moves and closes above $650 on the monthly timeframe, we have to reconsider our bias and adapt to the chart and market.

But right now the chart setup remains the same.

Namaste.

Bình luận:

The fake move (fake-bullish breakout) happened just as shown on the chart but there is still so much uncertainty permeating the market... What will it be?