1M Bnb/Usdt - Bearish, consolidation or bull flag?
There are many possible scenarios in play with Bnb atm.
I still think that in the 1W timeframe it would start the bullish leg to new ATH around 900-1000Usd.
But it is still possible that there will be a long consolidation period because monthly Stoch RSI is still going downward. Consolidation last time with the same levels of RSI took 8 months.
20W Moving average is 280usd atm. Do we touch this one before going up? There were lower lows a few months ago so it's still possible we get the higher low by touching MA20 and still get the bullish pattern in the long term.
50W MA is around 125Usd. Actually, Bnb would be bullish in the long term even it would go to that low.
Not Financial Advice. Do your own research.
I still think that in the 1W timeframe it would start the bullish leg to new ATH around 900-1000Usd.
But it is still possible that there will be a long consolidation period because monthly Stoch RSI is still going downward. Consolidation last time with the same levels of RSI took 8 months.
20W Moving average is 280usd atm. Do we touch this one before going up? There were lower lows a few months ago so it's still possible we get the higher low by touching MA20 and still get the bullish pattern in the long term.
50W MA is around 125Usd. Actually, Bnb would be bullish in the long term even it would go to that low.
Not Financial Advice. Do your own research.