Binance Coin: Still Early

20 февр.

I can say it is still early here because no strong reversal signals are yet present. When we consider the other Altcoins such as Dogecoin, Polygon and Solana, we can easily spot a lower high in February compared to previous months, this isn't the case for Binance Coin.

The most recent high came in February for BNBUSDT and we have no lower highs.
What we do have is a noticeable decrease in trading volume right after wave three.

Additionally, we can spot a two months old bearish divergence with the RSI.
Knowing that the market tends to move together, with the major Altcoins most doing the same, we can conclude that Binance Coin is set to follow those pairs that moved ahead.

Namaste.