BNB TO DUMP TO $460BNB ready to dump 🤔
I'm not a huge fan of pattern trading as it is very subjective, however when something is as obvious as this then it can't be ignored. BNB currently is in a very clear rising wedge pattern which only increases it's odds of playing out the way we expect it to. This is due to mass buyer confidence.
If we get more rejection from the ATH area of $750 and bearish bias continues on BTC then i do believe we'll see an aggressive break out here on BNB to the downside.
When compared to the likes of Solana which have similar functions and capabilities BNB is overpriced so this could also be a fundamental reason it could dump, to reset the value of BNB which would also in tern be good for BNB as it could increase it's user base as more people would be inclined to use it's chain for meme coins for example if they chain becomes all round cheaper.
Let's see how BNB continues to play out as it follow up the rising wedge pattern and squeezes into the final section. The squeeze will also allow a build of of liquidity and volume which will increase the volatility when price does break from this pattern.
If by some miracle we have a BTC pump, a large pump that is. Then we could see BNB break to the upside, but even if that does happen i believe it would only be temporary.
