The BNB post at 7 this morning said to wait and see: it only counts as fully digested once price reclaims 700; if it breaks below 687, we’ll have to look for support again. Six hours have passed, and it hasn’t touched either level.
Over those six hours, it bottomed at 693.8 and peaked at 695.9—a range of just two bucks. Bitcoin at least swung by $200; BNB has practically been a straight line.
So Dashi Xiong’s view hasn’t changed: still wait and see.
When the market is this dead, it means two things: the people who wanted out have already made their move on the 6th, and no one’s selling off anymore; but there’s also no new reason for anyone to chase. Binance plugging the hole, deposits outpacing withdrawals—those bits of good news have already been priced in. The sellers are gone, but the buyers haven’t shown up either.
This kind of market usually doesn’t break out on its own. It needs a push from outside: the U.S. market opens tomorrow night, and CPI comes out the night after. Whichever comes first, I guess.
The levels are still the same: reclaim 700, and the big red candle from the 6th can be considered fully digested; break below 687, and we’ll have to look lower for support again.
Do you think BNB is gearing up for a big move, or has everyone lost interest? #BNB $BNB
Over those six hours, it bottomed at 693.8 and peaked at 695.9—a range of just two bucks. Bitcoin at least swung by $200; BNB has practically been a straight line.
So Dashi Xiong’s view hasn’t changed: still wait and see.
When the market is this dead, it means two things: the people who wanted out have already made their move on the 6th, and no one’s selling off anymore; but there’s also no new reason for anyone to chase. Binance plugging the hole, deposits outpacing withdrawals—those bits of good news have already been priced in. The sellers are gone, but the buyers haven’t shown up either.
This kind of market usually doesn’t break out on its own. It needs a push from outside: the U.S. market opens tomorrow night, and CPI comes out the night after. Whichever comes first, I guess.
The levels are still the same: reclaim 700, and the big red candle from the 6th can be considered fully digested; break below 687, and we’ll have to look lower for support again.
Do you think BNB is gearing up for a big move, or has everyone lost interest? #BNB $BNB
