Technical analysis by AlanSantana about Symbol BNB: Sell recommendation (6/18/2024)

➖ We have a very strong ascending channel pattern on the BNBUSDT chart. ➖ The fake bullish breakout early June is a failed signal. These two combined spell doom for this pair. Expect a major crash to happen now, after months of sideways which is when most traders lose money. Once a trend has been established, it is easy for traders to win. When the market is ranging, most people lose money and that's when it is recommended to stay out; exactly what we did. 👉 A move down is starting to develop; targets follow: 1) $475 is a strong support. 2) $372 goes next. These are high probability targets. It seems the recovery will be fast after the crash. Namaste.Comment: We have a short-term shakeout yet the lower highs are still in place: A "small shakeout," indicates that the market is set to produce a decisive move soon and the market movers have run out of ammunition; it is getting closer by the hour.Comment: The weekly chart shows Binance Coin producing its second negative weak after a failed bullish breakout... ➖ Money will flow from these top altcoins to the smaller ones. ➖ Money will flow from Bitcoin to the altcoins (specially the smaller neglected ones). There is room for massive growth in the smaller, less known, trading-pairs. This is because these have a much smaller market capitalization and thus wilder moves are possible... Namaste.