🔥 BNX Regaining Strength After Massive Capitulation

٢٠ يناير ٢٠٢٣

Early last month I made an analysis on BNX and the fact that it was capitulating very hard. My initial target of $50 was reached fairly quickly, congratulations if you took the trade.

For now, I think that BNX is not facing an immediate capitulation risk. There's a high probability that all the selling has taken place in December and that there's little sellers left.

I'm looking at the top of the channel for a potential long-exit and/or short entry. The pattern could very well be classified as a bear-flag, so I'm cautious with calling for longs.