BNB - Bearish [ ]
-Timeframe: 3D-
BNB is a ticking bomb!
We broke major trendline and rising wedge two months ago and since then we were redistributing in the bearish pennant for two months!
We are finally nearing the end of this redistribution, any wicks above bearish pennant are clear bull trap before we see major drop towards $183 - $120 (BEST CASE SCENARIO).
What will be the black swan event for Binance for us to see drop of 80% we are yet to see and hear!
I'm very well positioned in my short position and been for many, many months!
I believe we'll see big drop and crash starting this month or in September before we truly start bottoming and with new retailers coming in, early 2024 where we could expect some sideways and "up only" movement. Of course all of this can be invalidated if we see financial crash which could pull us many years back in the winter.
Target 1: $184
Target 2: $150
Target 3: $120
Target 4: $50-35 (Final)
Trade over 2000 Coins and Futures on MEXC and no KYC
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