Guys, hello everyone. In this article, we will analyze the current situation regarding BNB, and based on the collected data, we will try to come to a logical conclusion. Go. Let's start with the fact that not long ago I already reviewed BNB on TW at a price of $319.5. In that publication, I indicated that BNB was located at the key resistance area ($319.5-$337.7), where a bull trap was forming, and the scenario would be revised only if it consolidated above 337.5, which did not happen. The price only clearly fell into the upper zone of the selected area. If consolidation does not occur, then I assumed that we would see a decrease in the price of BNB to $250, where the next consolidation zone would be formed before an increase, including up to $590.
The current news background made me pay closer attention to charts such as BNB/BTC and BTC/BNB. Throughout the bear market, BNB was the most stable coin, and when the entire market was steadily falling, BNB showed a huge increase in relation to other assets, which became predictable for BNB holders, because they can afford to buy more and more coins for each BNB. This comes to an end, starting with today's news. I had doubts why the same YGG token has 200% potential to BNB, as well as a number of other coins. And now I understand that it is time to reset large coin exchanges for the upcoming market pump.
As for the Bitcoin chart, friends, the weekly timeframe looks terrible. The possibility of a drawdown of BNB to BTC from the current one is about 45%, and only when the zone reaches 0.007420 to BTC can we talk about any reaction from buyers. Further, the situation by the end of the year may be even worse for holders. I no longer have hopes for this asset as I did before. As for the BTC/BNB chart, available on only one exchange (weekly divergence from April 2021), just when the implementation was coming to an end, and everyone began to hedge funds, as well as a clear structural accumulation. A breakout of the 79-80 area will trigger an increase to 110 BNB per 1BTC, which in turn is also equal to expectations for the alternative pair. Previously, in a bullish scenario, I expected a trade on BNB.D dominance in the 4.81%-5.52% zone. It is already below these levels. If a dump without a buyback is triggered in the 4.37-4.4% zone, then expect that this will be another significant signal and BNB will inevitably continue the correction.
Let's summarize my thoughts briefly: 1) A BNB sale is coming (BTC purchase). 2)The downside potential is -45% to BTC. And if at the same time we see the BTC price holding, then a BNB correction will occur to $137-150. Let me draw your attention to the fact that it was in this area that there was trading from February 10 to February 15, 2021, where the support zone is now located. 3) Confirmation of the downward trend will be carried out by an impulse breakout of the 4.37-4.4% area for BNB.D. 4) We have not only structural formation on many pairs in addition to fiat (BNB/BUSD, BNB/USDT), but also alarming weekly signals.