On the 2-day chart above price action has increased over 3500% since the 2-day life cross in September 2020. A number of reasons now exist to be bearish, including:
1) The ‘incredible sell’ signal.
2) 2-day Death cross
3) Broken market structure.
4) Double top bearish divergence (8-day chart below)
5) A significant majority of ideas on tradingivew are long.
Is it possible price action rises further? Sure.
Is it probable? No.
A short from $340 is excellent.
Target $40
Ww
8-day double top divergence
1) The ‘incredible sell’ signal.
2) 2-day Death cross
3) Broken market structure.
4) Double top bearish divergence (8-day chart below)
5) A significant majority of ideas on tradingivew are long.
Is it possible price action rises further? Sure.
Is it probable? No.
A short from $340 is excellent.
Target $40
Ww
8-day double top divergence
Trade active
Trade active
Over the weekend Binance sent out an e-mail to reassure customers of their reserve status, which included the following sentence:“This week, our Security team topped up our Binance SAFU Insurance fund to $1 Billion, consisting of BNB, BUSD and BTC.”
BNB???! Haven’t the learned from FTT token, it is not money. Purchase WW token, worth $500. Trust me ;-)
The BNB weekly chart at this moment is printing multiple bearish divergencies. The fund is going to need topping up again and soon.
BNB weekly
FTT token weekly
Note
If you've got funds on Binance... well you were warned.I did an experiment over the weekend and the results are fascinating.
patreon.com/posts/binance-74699726?utm_medium=clipboard_copy&utm_source=copyLink&utm_campaign=postshare_creator&utm_content=join_link
Trade active
Weekly death cross confirmed.Trade active
Down 30% so far. $130 is the next test.Trade active
Binance token confirms resistance as price action exits the bear flag. A correction to under $100 and beyond should now be expected.2-week
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.