This is BNB on the weekly. It actually looks like this at every timescale. Green dildo after green dildo.
RSI overbought on every timescale. Volume decreasing on every timescale. 5 months of green vertical dildo growth. When the FUCK is this going to retrace to so I can buy some?
NEVER
Last night closed a part of my position on it, regret, turned back on.
IDK where the fuck it wants to fly
Because that's sustainable growth.
Holy fuck... I almost feel sorry for anyone who buys into this now.
This will see $14 and probably $10 again, look at the resistance/support levels
support/resistance don't work very well on crypto
For fuck's sake, even on the BTC charts: monthly RSI is ~85, then above 70 on every timescale except 1h where it just touched 89. Bearish divergences on the daily RSI. Fuck me, when RSI hits 90 you are dumb if you don't sell.
This has been a serious test of my FOMO resistance. I traded a bunch of LINK and RLC yesterday for BNB and then smacked myself and traded it back. Gotta wait til this shit pops.
why is this shitcoin pumping in the first place, while other legit projects are dropping? I bet those chink scammers from binance are pumping this scam with money from stablecoin issuing and will dump onto the stupid faces of the faggots who bought in.
I admit that I'm mad at myself for not buying some BNB when it was sub $6 recently but a nonstop 500% rise is simply not sustainable.
Just be sure to lock in some profit to not feel sorry if/when it dumps
We all felt like btc/eth/xrp etc could go up endlessly in 2017 until the retrace hit us
Good hint, i'll look further into it
But RSI during hard bullish moments can stay very high for a loooong time, if you see.
Yep, i'm doing this: half opened from a very strong position and opening / closing the other half progressively
Nice, good luck m80
Yeah I mean hindsight is 20/20 and this shit makes you delusional. I mean it seriously tests your critical detachment. I rode XRP from .23c up to 3.30 and it was the purest, cleanest high with a singular delusion of grandeur. I thought it was going to last forever and was gonna quit my job. I want to believe I'm beyond that type of high but I get tastes of it every now and then in this bear market. Like when LINK went up to 15k sat... then again, it has gone up in USD value since then.
The best rule I've followed since the bull market which has saved me a lot of grief: NEVER buy a coin that looks like BNB does right now. Stick with your bets, don't fomo in EVER, or you will get FUCKED. I only make a trade when my holdings are high relative to whatever I'm buying.
This looks like the ftm pattern sure is safe to jump in now
Right now it seems a bit too risky, at this point it's better enter when it does some retracement.
it's going to 10k then 100k once binance becomes a member bank of the federal reserve
10k is a bit too much, honestly
Been a while since i traded on Binance, when selling BNB to BTC, can you use the BNB you're selling against the fees? Or do you need to hold some back purposely for this?
Is the BNB bullrun a tell that whales are going to buy back into something else utilising the reduced fees of BNB on binance?
Bought a stack in December. I've been selling my stack in increments for the last two days. Now I'm all out of BNB except $100 for fees, and it's still pumping. Can't wait to see some red candles to rebuy. Patience, don't fomo in
I think this run is irrational so I wouldn't read too much into it. But yes, I think the underlying fundamental value is what you're saying. Imagine how many people have FOMO'd in.
Does anyone know if you can issue tokens on BNB? It's getting touted as an ETH killer but literally all the info I've found on the internet is circlejerk jargon copypasta.
Wtf could they buy that would do better then this?
literally anything with a greater ROI potential?
For example, let's say 20 people were responsible for 80% of that recent spike. Suddenly they all cashed out at profit and bought into [insert coin] with the fee reduction of BNB, they would not only be getting the initial profits from the BNB pump they caused, but fee reduction buying into their next investment, AND the volume of buying into it surging the price of it.
I doubt very much a chink exchange token is naturally growing at this pace for so long with so little project backing it.
>muh mainnet
it's crypto after all, probably elaborate PnD.
The point is: who the fuck knows until time passes, we can look back, and see that something has done that well?
We know one thing: just because it had gone up 500% with 5 months of green candles does NOT mean it will continue to do as well. That thinking is delusional. Sometimes these coins surprise us and will grow for longer than we think--- but the longer this goes on (and it's gone on far too long) the overwhelming probability is that BNB is going to retrace. Possibly for weeks on end.
Dubs of truth. Yes, I missed a ton of opportunities because I didn't FOMO in coins that are already mooning, but never in my 7 years in crypto have I lost a significant portion of my $ in a shitcoin. Most 2017-ers have.
BNB is growing because it has a legitimate usage and because the backers are actively buying back. But also chink scams.
No reason why it wouldn't go on pumping until 2-3 days before the lottery
they acually do lol
Just look at the chart and be fucking patient, obvious divergence in the volume. Theres lower bull volume each week but price keeps going up.
checked. BNB is growing because CZ had a big stack of BSV from the fork, sold it all high, started pumping his shitcoin, then entered a huge short position before announcing he would delist it, profiting even more which he again is now using to pump his shitcoin even more
>expecting the crypto market to act rational
>especially after CZ showed Craig( bear market creator ) who's the Boss in Cryptoworld.
It has a use (lower fees) and on a billion dollar volume exchange this is a very useful use
Yeah. The best buys I ever make are coins that have good fundamentals and speculative promise when they are making long term lows or oversold in a large timeframe. Unless it's a bad project or a scam, eventually the only way is up. Even BSV rebounded a bit after this big selloff. Link and RLC have made me quite a bit of money since I exited XRP as my main hold.
Noticed. The volume is definitely falling off
Don't delude yourself. It does have a great use but the numbers are clear: it's growing unsustainably, is massively overbought, and volume dropping off is pointing to a big retrace after 5 months of growth. No matter how good a project--- or even if it were an average coin mooning in a golden bull run--- that kind of growth has to be checked by a retracement.
That's a damn good theory.
Whoa, do you seriously believe that craig made bitcoin retrace after the golden bull run? I'm gonna give you the benefit of the doubt and assume you mean he caused the plunge from $6k. If anything that did us all a huge favor... BTC was ALWAYS due to test a price far lower than 6k and the sooner it did it the better. Now the bull can return much sooner.
This is an irrational rally. I like irrational rallies. But this will end very soon with a big retracement.
I don't expect much of a retrace from here, if at all. The 100 BNB minimum for IEOs is effectively Binance's form of lock up or staking. A lot of poorfags like me just barely managed to scrape together enough for 100 BNB over the past month or so and while I'd love to take some profit now, it's not worth the risk, because if BNB continues to climb, I know I'll be priced out of of participating in all future Binance IEOs for good. If Binance continues to take over the crypto world as it has been doing, there'll come a time when people will kill to be in the 100 BNB Club.
Rode BNB from around 38k and now just sold above 45k. One of the few good trades I ever made.
what candles are you looking at for volume dropoff? daily?
Expecting something very hard in the crypto or in just some other market is very stupid.
I'm not saying that there won't be a retrace, but people expecting that the price will fall at 8 so they can buy again are just delusional
Gonna post this when im buying /pols/ bnb for 11 dollars
This, people selling now are crazy, this is a $100-300 material, possibly $1-10k in 2022
Volume is not falling at all. I'd expect a retracement eventually but I'm still bullish for a while.
Fuck me I just bought BNB today because of fomo
God damn it
The only meaningful read of volume is if you consider it in the span of price movement you're trying to analyze. You can see the divergence on the daily and weekly charts. Look at it within the span of the past 5 month rally. It went way up during but now it's slowly declining. That means buying is falling off. I'd say there's a little more life in the rally before upward momentum ends and selling takes over.
I think you're falling for the classic mistake of analyzing the situation on a too low timeframe. You're taking the volume during the volatility spike and comparing it to the volume right now. Of course, it's lower. Volume is higher than ever, nevertheless, this is a strong bullish indicator.
this.
you impatietn zoomers selling ETH at 24$ fuckin LOL'd.
almost anybody who have been here before ETH rise can clearly see this is going to do the same.
and those who are waiting for retrace, it has already done it last weeks. this is just too good coin to dump like your pajeet shitcoins.
I am looking at the daily and weekly charts going back to the beginning of december when this started rallying. I don't think that's too low a timeframe.
When will you learn that technical analysis is worthless with cryptocurrencies? They are driven by hype and speculation, mostly. BNB was as bearish as eveything else, then they started doing shit on their own and shaking things. That's what gives them value. It might have small drops here and there, but as long as they continue pumping news and shit, it will keep climbing and doing weird looking patterns like that one.
>implying price movements dont drive hype and speculation
They can, but there's no order. There's nothing rational about this. Binance could come up with some insane news, and shoot it up right over $50, and then $100, while you technical fucks keep waiting for muh $10 retracement RSI oversold MACD blabbery bullshit. Guys that devoted into TA might be in the wrong market, but 100% guaranteed they are in the wrong coin.
>t. retard that buys your bags at the top
thank you, I look forward to dumping more on you in the future
I did'nt enter now, you dumbass
People actually use BNB unlike most memecoins