Piggybacking off of earlier BNB insight by: socialtrends

It seems like all eyes are on BNB due to the seemingly never ending increase in valuation. That said, 'socialtrends' wrote an insight earlier pointing out the decline in, well, social trend. So I just wanted to add a few other small additions that I think may strengthen the case for the local top being near.

While digging through the BNB dashboard a couple days ago these large spikes in DAA and NG were the first indication that the final push may be eminent. Now clearly this is not confirmed yet, which is exactly why I feel it is important we discuss the possibilities now. And since confirmation bias can influence many things, stepping out ahead of the assumed correction can provide significant information. Mainly being the true value of the tools and methods we have here at our disposal.


Additionally, this tweet which has been up just shy of two hours hour as of the time of this writing, is yet another indicator to me that BNB may have finally fully stretched its legs. With the declining volume and continued increase in price among USD, BTC and ETH pairs, I'd say current outlook isn't a positive one.

Finally some TA, the dashed yellow line indicates the most recent high which also coincides with strong historic S/R, as well as being very near $12 which is a decent enough round number to be considered psychological S/R. Now regarding the blue trend lines above recent PA, MFI & %B, it shows that the past months uptrend has been divergent. So those bearish divs are giving further encouragement to the call, or 'put' rather, if we were talking options. Nonetheless, socially the markets appears exhausted and fiscally it seems similar.

Thanks for reading!

If you enjoyed this insight please leave a like, join discussion in the comments and share it with your friends!

0

Conversations (0)

No comments yet
Be the first to comment