BNB not looking great here either. JUST re-hit previous ATH, and with this dip, that may end up sending it into a spiral for a bit. There is always some form of FUD surrounding BNB, too, which doesn’t help. For now, concentrate on what it’s doing in this little flag area I’ve drawn in. This flag is brand new, so might not complete until mid-Dec. We’ll have to re-visit this one, but the rejection from previous ATH is absolute. Take half profits here, in my opinion, and wait for the flag to solidify before you make a further decision for your bag.
The PA on these charts have built themselves into an area where they have a significant amount of freedom to do whatever they damn well please for the next few weeks. Unfortunately, if you’re holding most (except those specifically mentioned otherwise), we’re too low to sell, and too high to buy. We’re in a purgatory of sorts. We could see more consolidation through till mid Dec. waiting for these flags to complete, but also could break long for the pairs that look to be nearing completion, or break short from the patterns that are just “trickling” up forming Corrective Ascending Channels. The bearish pullback of these last 2 weeks has been hurting many, as we had finally seemed to be getting fresh air above previous highs, which caused lots of new positions to be taken in the confidence that gave people. Some pairs such as RUNE haven’t even re-achieved previous high though, which reminds us just how much headroom we still have for this bull cycle. That, and the Total MC still being shy of $3T… That is a market cap for ants.
My suggestion for you all is: spot only. No leverage. De-lever some of your position(s) if you’re already levered. Ensure you’re COMFORTABLE. If you’re feeling UNcomfortable, do what you need to get back into a position of comfort where you can just ride these waves out, then re-approach the market from a position of STRENGTH. We have the most volatile part of the bull market remaining, as I’ve said many times, but that doesn’t necessarily mean straight up… It can mean routine 15-20% pullbacks as well! “Strength” means you’re prepared for any outcome. Is that you?
Stay safe, get comfortable, settle in for a bit longer, and we will re-assess ASAP!
Have a great week ahead :}
Cryton Capital is not a registered investment advisor, legal advisor, tax advisor, or broker/dealer. All investment / financial opinions expressed in any-and-all posts on this page, including screenshots & captions, are from the personal research and experience of the owner, Mr. Chris Cooper, and are intended to be interpreted as educational material only. Although best efforts are made to ensure that all financial charts and commentary are as up-to-date as possible, there may be times where price moves beyond key levels before the chart can be posted. Alas, this is part of the fast-paced financial sector and cannot be avoided. Also, occasionally unintended errors and/or misprints may occur.
Learn how to earn…
Become part of our community.
Follow our socials.
Subscribe to our podcast.
Subscribe to this publication.
It’s free (for now)