BNB has had incredible, nearly unprecedented growth since it launched. Most would say that growth has been healthy as well. The current run that it is on had 15 of 16 weekly green candles. The one that it missed is the doji on 28 Jan 19, and the close missed green by 2000 sats.
I went back and looked at ETH and its big runs. April 10 - Jun 12 2017 it posted 10 consecutive weekly candles that pushed the price to $353. It traded sideways (on the weekly) for 20 weeks then exploded up to $1500 8 weeks later. ETH was a bellcow in crypto's 2017 bull, and it's hard to not expect Binance to have a similar role for what's coming to crypto's marketplace. The Binance exchange is doing 1B real volume a day and the BNB token has a wide swath of use cases within and outside of that ecosystem.
BNB has performed impressively during crypto's bear market, gaining value against BTC while BTC dropped in price. Two of the past three weeks have formed a well defined trading zone that BNB will likely pass into while the candles trade towards a rising EMA. The weekly has three bounces off the EMA and one instance of dropping through it, which occurred last August. I would expect BNB to get near the EMA once more and rocket off, again.
You can see the hard kink up on the lower boll band on March 25. I'm expecting BNB to trade into the blue zone, 6 weeks or less. Then it will put up another string of huge weekly candles that would be akin to ETH's from April - Jun 2017. I'll be honest in saying BNB has a better use case than ETH, a larger network, and the planned DEX will require hefty stacks of BNB to list onto it (initial reports are $100,000 USD of BNB to list on the DEX). Couple all that with the quarterly token burns and you shouldn't need me to tell you where this is going.
BNB will be the #2 crypto by marketcap. The period of trading from .0035 - .0045 represents a fantastic entry point for anyone who has flirted with entering BNB. If you wanted to wait for BNB to breach .0045 and hold it, by all means. I say the #2 line quite confidently as the cryptos in front of it have nowhere near the same amount of users, demand, or the speed that BNB will have (1 second blocks, 0 confirmations).
#SAFU
I went back and looked at ETH and its big runs. April 10 - Jun 12 2017 it posted 10 consecutive weekly candles that pushed the price to $353. It traded sideways (on the weekly) for 20 weeks then exploded up to $1500 8 weeks later. ETH was a bellcow in crypto's 2017 bull, and it's hard to not expect Binance to have a similar role for what's coming to crypto's marketplace. The Binance exchange is doing 1B real volume a day and the BNB token has a wide swath of use cases within and outside of that ecosystem.
BNB has performed impressively during crypto's bear market, gaining value against BTC while BTC dropped in price. Two of the past three weeks have formed a well defined trading zone that BNB will likely pass into while the candles trade towards a rising EMA. The weekly has three bounces off the EMA and one instance of dropping through it, which occurred last August. I would expect BNB to get near the EMA once more and rocket off, again.
You can see the hard kink up on the lower boll band on March 25. I'm expecting BNB to trade into the blue zone, 6 weeks or less. Then it will put up another string of huge weekly candles that would be akin to ETH's from April - Jun 2017. I'll be honest in saying BNB has a better use case than ETH, a larger network, and the planned DEX will require hefty stacks of BNB to list onto it (initial reports are $100,000 USD of BNB to list on the DEX). Couple all that with the quarterly token burns and you shouldn't need me to tell you where this is going.
BNB will be the #2 crypto by marketcap. The period of trading from .0035 - .0045 represents a fantastic entry point for anyone who has flirted with entering BNB. If you wanted to wait for BNB to breach .0045 and hold it, by all means. I say the #2 line quite confidently as the cryptos in front of it have nowhere near the same amount of users, demand, or the speed that BNB will have (1 second blocks, 0 confirmations).
#SAFU
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.