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BNB Continues to Rise While Analyst Shares His Bearish Outlook

Published 12/04/2023, 08:49 PM
Updated 12/04/2023, 09:15 PM
BNB Continues to Rise While Analyst Shares His Bearish Outlook

  • A popular trader and analyst shared that he is bearish towards Binance Coin (BNB).

  • According to the analyst, the native token of the Binance ecosystem could drop to $40-45.

  • From a shorter-term perspective, a noteworthy bullish flag was on the verge of being triggered on BNB’s daily chart.

The cryptocurrency trader and analyst that goes by the X username il Capo Of Crypto revealed in a post yesterday that he is bearish towards Binance Coin (BNB). According to the post, many indicators such as “PA, heatmaps, IO and fundings are similar to FTT or LUNA before the crash.”

In a post last year, the analyst revealed that his target for the native token of the Binance ecosystem is between $40-45. He has been consistently adding to his short position since then as part of a swing strategy with low leverage.

The post BNB Continues to Rise While Analyst Shares His Bearish Outlook appeared first on Coin Edition.

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