BNB is one of the most promising coins in the crypto market. Although its market capital has ballooned to billions, this coin still has a lot of growth potentials. Serriosly, with the coin's overwhelming demand and utility, it may topple down etherium one day.
BNB along with BTC has been going up these past few weeks. BTC pushing alt coins up during the bull season is a common scenario. Everyone anticipates that.
So the question is SHOULD YOU BUY BNB NOW? Is it already late to enter the market considering that its been a while since the bull season has started?
Well, Here's my honest opinion:
1. BNB has already consolidated after its major fall from the 669 USD price point. Consolidation is a clear sign that the selling pressure has weaken, and the buy orders are slowly picking up.
2. For 6 times after such fall, it has failed to break out from the ultimate two year horizontal channel.
3. Right now for the 7th time, its trying to break out again to probably go back or surpass its previous 669USD ATH.
4. WHAT MAKES THIS TRY DIFFERENT?
The weekly chart shows that BNB is slowly going up through an ascending channel. History tells us that ascending channels are the best resistance breakers 🤑🤭🤫.
In the same chart, a bullish cup and handle is forming. Upside target in the comming weeks is around 500USD.
For your reference I attached the chart in this thread. 😄
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