BNB potential rise to $13 & review of past two months
In the past two months, BNB grew well at first but crashed particularly hard since mid-Jan, losing 80% of its value.
We can see from the chart, the eventual bottom was at less than 0.2 of the full previous growth.
Before the crash, BNB chart was very clean (as you can see). After falling out of the rising wedge around mid-Jan, it stayed at around 0.5x fibo for a while but eventually crashed a second time.
I believe that the way up is a mirror of the way down (see my BTC post & YouTube video for more details).
This means the 0.5x fibo level will be a critical resistance. Right now, we're just above / at the 0.386 level / neckline of the inverted H&S, maybe forming a small bull flag.
I expect around $13 at first but further growths will be conditional on the overall market.
We can see from the chart, the eventual bottom was at less than 0.2 of the full previous growth.
Before the crash, BNB chart was very clean (as you can see). After falling out of the rising wedge around mid-Jan, it stayed at around 0.5x fibo for a while but eventually crashed a second time.
I believe that the way up is a mirror of the way down (see my BTC post & YouTube video for more details).
This means the 0.5x fibo level will be a critical resistance. Right now, we're just above / at the 0.386 level / neckline of the inverted H&S, maybe forming a small bull flag.
I expect around $13 at first but further growths will be conditional on the overall market.
Commento:
Indeed going up. Hope it could recover above $13.
