Hi Binancians,
Pay attention to the BNB weekly, monthly& daily chart, an obvious pattern is showing
I have added the image of the BNB chart and an extra chart pattern that the BNB chart looks like from the Textbook
I looked at my #BNB chart, and I think we need to talk about the pattern printing there.
As you know I am a Big BNB faithful and admire the progress CZ has made for himself especially starting from a place of uncertainties to a vision of greatness.
That being said, that pattern is "Descending Triangles"
Descending Triangle
As you may have probably guessed, descending triangles should be the exact opposite of ascending triangles (I knew you were smart!).
In descending triangle chart patterns, there is a string of lower highs that forms the upper line. The lower line is a support level in which the price cannot seem to break.
In the chart added, you can see that the price is gradually making lower highs which tells us that the sellers are starting to gain some ground against the buyers.
Now most of the time, and Yes MOST of the time, not always, the price will eventually break the support line and continue to fall.
However, in some cases, the support line will be too strong, and the price will bounce off of it and make a strong move up. (Which I strongly believe will be the case of $BNB )
The good news is that we donât care where the price goes. We just know that itâs about to go somewhere. (Futures traders will traders where it goes)
In this case, #binancefutures traders would place entry orders above the upper line (the lower highs to LONG) and below the support line to SHORT if it falls.
For Optimistic #Binance Spot trades like me, I will DCA into position to keep buying the dips cos I see CZ's hard work paying out soon
IMO, I think with correlation from #bitcoin and every other factor considered, especially the imminent and the impending Bull Run coming I see$BNB outrunning all altcoins$ETH Inclusive
Hence a bag of a BNB now at this ridiculously lower rates will bring massive ROI gains...
