Binance Coin BNB Skyrexio Overview: Bull Market Is Almost Over
2024-11-29

Hello, Skyrexians!

  BINANCE:BNBUSDT  is one of the strongest crypto assets on this bull run. Stronger even than Solana! It has printed the ATH with the Bitcoin while most of the crypto set the new bear market bottom. This early growth has the consequences, while most of crypto has just started their way to big gains, Binance Coin has the very restricted potential for further growth.

Let's take a look at the weekly time frame. Bull market has started suddenly with two green dots on  Bullish/Bearish Reversal Bar Indicator    which were very strong long signals. As always, alerts from this indicator are automatically replicated on my accounts. You can find the information in our  article on TradingView.  After that we have seen the impulsive wave to the upside. 

Almost at the top indicator has printed red dot, first bearish sign of weakness. But don't worry, according to Elliott Waves theory this is just wave 3 top. After that we have seen the wave 4 correction to 0.61 Fibonacci retracement exactly! Now BNB is printing wave 5 which has the target area between $725 and $900. There we expect another red dot to make a decision that bull market is likely over.

Best regards,
Skyrexio Team

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