Top Crypto Analyst Forecasts Big Move for Binance Coin (BNB) on Bitcoin (BTC) Chart – Here’s the Outlook – The Daily Hodl
Widespread analyst Jason Pizzino says Binance Coin (BNB), the utility token of the world’s largest crypto alternate, is probably going headed for a pattern reversal on the Bitcoin (BTC) chart.
Pizzino tells his 279,000 YouTube subscribers that Binance Coin has doubtlessly hit a prime towards Bitcoin (BNB/BTC) after the pair’s bullish run of practically two years.
Based on Pizzino, the looming reversal might set off a multi-year downtrend for BNB/BTC.
“We’ve just started our first major month down to put in a potential top here on BNB/BTC. And this could last two years from that point.”
Supply: Jason Pizzino/YouTube
BNB/BTC is buying and selling at 0.013784 BTC at time of writing ($230).
The widespread analyst additionally says that BNB has exhibited clear bull and bear tendencies towards Bitcoin for the reason that pair was launched in 2017.
“[From July 2017], 21 months as much as the height in April of 2019. We all know that Bitcoin discovered a peak in round June of 2019 from that time as properly. So this was rallying up whereas Bitcoin was additionally going up after that macro low, after that cycle low.
[BNB] then fell for 21 months towards BTC worth, all the way down to January of 2021 and has since been up into the newest excessive of November 2022. So nobody can argue that this isn’t a transparent bull and bear pattern over 21 to 22 months.”
Based on Pizzino, BNB/BTC will doubtless finish its downtrend by Q3 of 2024 ought to the pair proceed to repeat its cycle.
“Ought to this repeat, we’ve got 22 months or 21 months to take us to round August of 2024. And if we wished to exit for that 22 months, then it’s going to be round September of 2024.
So someday round August or September of 2024, this [BNB/BTC] chart could discover a backside.”
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