At a time when inflation is out of control, the dollar is going parabolic and Bitcoin keeps tapping support more times than is healthy, let’s look at a bullish chart!

BNB/BTC has remained one of the strongest chart in all of crypto for the entirety of 2022 (again!).

It's easy to understand how it has come to pass this year. Many major players in crypto have fallen down during the past few months. Where did they all go first to ask for bailout?

They went to Binance, because Binance has money and has remained strong through this downturn. Of course that increases confidence in BNB, even if it has other purposes like gas for BSC etc.

Let's first recap how this chart has behaved in the past before looking into the current situation.

5 Year View

BNB/BTC, daily candles

BNB/BTC has been very easy to chart, with just classical charting and basic Larsson Line.

Price has moved in distinct parabolas, in clear uptrends.

Then it consolidated, found new support and then launched the next parabola.

(A straight line on a log chart is a parabolic advance in linear terms.)

This has repeated 5 times or 6 times if counting from the initial ICO.

Once there was sufficient price history, you can see how the advances were easy to both:

- identify (gold flip)

- containing downside (price launched the advances off key support levels)

2 Year View

If we now take a step closer in terms of calendar period and focus on 2021-2022 while at the same time taking a step back in terms of candle duration to 3 day candles, we see what has happened even clearer:BNB/BTC, 3 day candles

After the parabolic advance ended, price did not crash. Instead it built a bull flag, consolidating in a tight range.

Price broke out through the range high, as could be expected with this chart construction.

So what has happened after the breakout? Let's zoom in even more!

6 Month View

Price had a very distinct breakout from the major range at 0.0122, then held, and then started hitting up against another resistance at 0.0143 - which has now also broken through.

BNB/BTC, 3 day candles

From a technical analysis perspective, this chart remains healthy and the trend as proxied with Larsson Line remains up on all relevant timeframes.

Having said that, the correct entries are now long back already. Chasing entries is perilous. If you missed the entries, the only advice I can give is to follow me on my social media channels, link in bio 😆

Stay in the markets folks. Most people buy peak euphoria, which is usually the market top. Then they hold all the way down until everyone is depressed. Then they sell. That's usually the bottom. Don't be like most people!

Thank you tack! CTO Larsson out. Hej då!