DealerBTC My Thoughts: $BNB - Binance Coin - Kill The Bears

In my opinion, BNB is one of the relatively strong stable coins. It has so far held up and found support near its 2021 summer low of $211. I expect BNB to continue to consolidate between $211 and $331 until BTC clears above $26k. In my opinion, if BTC were to kick above $26k, BNB would make a move to $433. At that point, there could be a retrace or consolidation, but price would likely continue to the resistance zone between $638 and $691. Of course, it's important to keep an eye on BTC and consider price action relatively. I do think this coin has great potential because of its association with Binance and it is in my opinion one of the relatively older coins that has potential to make a new all time high. However, keep in mind that any kind of FUD against Binance - the exchange - has potential to negatively impact or even crater the price of BNB. At the moment, I think its premature to discuss what the price of BNB would look like at a new all time high. I would need more feedback from the price action of BTC to make an estimate of where I think the greater market is heading.

This trade idea is not financial advice. I am not a financial advisor of any kind. I am a stupid degenerate gambler.

Please do your own analysis, responsibly manage your risk, and stay safe.

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