I thought phase two of Binance withdrawals would bid BNB. It didn't.
The reopen began at 04:00 UTC. BNB dipped to 691.66, tagged 703.3, then gave it back. It's 698, -0.1%, vs BTC +1%, ETH +2.1%, SOL +1.8%, and 70% of pairs green.
Top traders are still 2.89x long vs short. That's a crowded bet on the catch-up. The tape isn't confirming it. Below 691.66, those longs are fuel.
$BNB is 8% below its pre-hack close. I'm not buying until it reclaims 703.3.
Do you buy this dip, or wait for the reclaim?
#BNB #Binance
NFA. I trade my own book. DYOR.
The reopen began at 04:00 UTC. BNB dipped to 691.66, tagged 703.3, then gave it back. It's 698, -0.1%, vs BTC +1%, ETH +2.1%, SOL +1.8%, and 70% of pairs green.
Top traders are still 2.89x long vs short. That's a crowded bet on the catch-up. The tape isn't confirming it. Below 691.66, those longs are fuel.
$BNB is 8% below its pre-hack close. I'm not buying until it reclaims 703.3.
Do you buy this dip, or wait for the reclaim?
#BNB #Binance
NFA. I trade my own book. DYOR.