FREE BNB ANALYSIS CZ The Market Leader -
Yello, ladies and gentlemen !
#BNB looks like it is priming
up for another run.
From a technical point of view, the Binance Coin has been
slowly accumulated by whales in the $260-$290 support zone since August for nearly 5 months now!
You can see how the volume has been suppressed below the average till recent spikes indicating
someone bigger is getting impatient. Looking at 4h TF, we are forming a bullish pennant above the support zone, this while Stoch RSI shows a bullish Divergence at the bottom, indicating an
extreme strength!
At the same time, we have been witnessing huge unloads of funds from exchanges for the past few weeks, as people are scared after what happened with FTX and others… Today we tweeted the breaking news from
CZ (CEO of Binance) that
Binance has successfully as the first exchange audited proof of reserves! On the on-chain data, we have immediately registered a spike of transaction flows back into Binance as people
gain more trust in them. From a fundamental point of view, this is
extremely good for the whole Binance ecosystem, as they, unlike other exchanges been respecting their risk management
well enough throughout this bear market that they did not need to take any loans.
This will also be
highly beneficial for their coin BNB, together with observing how retail reacted to today’s minor market drop
(BTC only like 2% and OI fell crazy hard). It showed us that most leverage traders had already left the market. And that is why we expect Binance coin to use this opportunity and
start its
growth in the upcoming weeks.
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