MORE BEARISH ACTION TO ($3800-4600) RESISTANCE ZONE BEFORE FINAL BULL-RUN TO ATHsteemCreated with Sketch.

in #bitcoin6 years ago

First & foremost; I'd like to point out this elliot wave pattern spotted on BNB/BTC; with good reason.

Reason being; tracking BNB/BTC patterns has been IMMENSELY helpful in tracking BTC/USD patterns... although not always* precisely because Binance is the #1 exchange (volume wise) which is a fact, not an opinion.


So it would only make sense that the price/volume of BNB is directly correlated to the price/volume of BTC; which serves as an invaluable tool in defining uncertain chart projections using analysis of other coins/tokens & specifically: exchanges...with Binance having more volume than any exchange, hence studying the pattern/movement of BNB can help swat away the distractions of all the shorts & margin/leverage trading news on Bitmex we've been hearing so much about: which HAS DEFINITELY impacted the market.

Perhaps more than we realize...some would argue this is insider trading & currency manipulation; that's another discussion for another day. I'm simply here to point out this trend/pattern which, to me, is revealing more bearish action before any sort of consolidation.

As much as it pains me to say this; I see us headed toward the:

$3800-4600 range, before we can see that consolidation.

Then again I hope I'm wrong... although analysis indicates otherwise.

Remember not to invest more than you can afford to lose... but most importantly:

TAKE ALL TRADING ADVISE (INCLUDING MY OWN TA) WITH A GRAIN OF SALT; DO NOT LISTEN TO ONE PERSON'S ANALYSIS REGARDLESS OF HOW GOOD YOU THINK HE/SHE IS.

WE ARE ALL WRONG SOMETIMES; NO MATTER HOW OFTEN WE ARE RIGHT... at the end of the day there will ALWAYS be an element of risk factor that CANNOT be predicted


Safe Trading all! Set Stop-Losses! Set Alerts! Stay Alert!

PEACE & LOVE! ❤✌

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