In addition to the interest rate cut, there is another major event in the cryptocurrency circle in September: BN founder CZ is about to be released from prison
Looking back at the past few months, CZ's imprisonment incident caused panic in the market. Four months have passed, and CZ will return to the arena on the 29th of this month.
However, CZ went in and out again, Bitcoin is still fluctuating at the same position, and the market is still waiting for the big brother.
Just kidding, CZ's active admission of punishment and bowing his head have opened the door for the long-term development of the entire crypto market. He made personal sacrifices and compromises for a critical step in the industry. This is a very big picture thing, so naturally CZ is highly recognized by professionals in the industry.
According to current news, CZ has no substantive position in Binance after his release from prison, but this does not affect the rights of its largest shareholder. He is still the core decision-maker of Binance. There is no need to worry about the future development of Binance.
After CZ is released from prison, will it drive a bull market for BNB and cause a sharp rise in prices?
According to the "Hidden Dragon Strategy", from the perspective of the last week's market, BNB is now in a bull market. After the decline on August 5, this callback closed with a cross line with a long lower shadow, indicating that there is an important support level below.
In the week of August 26, the short position fell in volume, but did not break the previous low. It just fell by inertia. Now there are signs that the long position has begun to exert its strength.
If a cross morning star pattern is formed at the close of this week, it indicates that a new round of BNB market is about to begin.
As one of the industry's oldest mainstream currencies, BNB has achieved a hundredfold increase in the last bull market. In this round of bull market, based on the development of Binance, it is still worth looking forward to.
However, if we compare the potential currencies that meet the development needs of the blockchain industry in this round of bull market, whose value is far underestimated, BNB’s explosive power is relatively inferior, and it is highly likely that it will not outperform the potential currencies in this round of bull market.
Friends often ask me, when can I buy a certain B, will it fall, and when will it rise?
These problems can be clearly seen through the K-line, and we can see the strength of both sides of the market and be prepared in advance, rather than regretting when the price goes up or being passive when the price goes down.
There is no need to guess the subsequent market based on your feelings. Sometimes you think it will rise, sometimes you think it will fall, and sometimes you think there is no hope for fluctuations. Such guesses are meaningless.
Every K-line is valuable and allows us to clearly see the subsequent trend and direction.
Just like our original Amazon rainforest, without maps and compasses, and without knowing how to identify hunters’ traps, if we just follow our own feelings, we will only end up with a bloody nose.
