The market has experienced a wide range of fluctuations for half a year. Both BTC and BNB are hovering near the highs of the last bull market, with a fluctuation range of about 30 points. Despite various negative and positive news during this period, the market has never been able to break through the box range, whether it is negative or positive.
From many perspectives, we are probably at a critical time. The six-month consolidation cycle, the time point after BTC halving, the Fed’s interest rate cut expectations, the gold price hitting new highs, and the new round of global monetary easing are all likely to have an impact on the cryptocurrency industry. I speculate that there may be a change in the market during the National Day holiday.
Specifically for BNB, I think 580 is an important support level, and 620 is a short-term pressure level. Ideally, BNB can break through 620 and challenge the previous high, and if it can pull up after stepping back to 580, it will be a better trend. If it falls below, you can stop loss or enter the market at a lower level.
It has been nearly a year since CZ stepped down as CEO of Binance. BNB and BTC have been in a bull market for half a year. Recently, CZ released "GM", but from the market point of view, this pair of currency prices did not cause significant fluctuations, and the trading volume was not obvious. change. I feel that unless he announces a large reduction in BNB holdings, it will undoubtedly be a major blow to the price of BNB, and the rest can wait for a real bull market.
