✴️ Prepare For Change | Better Safe Than Sorry (BNB Weekly)
Updated
How would your trades, your positions, your portfolio, your balance, your Crypto be affected if there is a "change of management" in this exchange?
I've seen sometimes where funds become stuck for a long time while certain legal situations are clarified.
Sometimes a portion is lost, other times refunds can happen fast but with limitations...
What I've never seen is a smooth, painless ride when there is a sudden, surprise, out of the blue "change of management".
One of the most famous saying in the investment world goes like this: "Do not put all of your eggs in one basket".
This is of course a precaution method.
If you have all of your eggs in one basket and for whatever reason the basket falls, you are going to lose all of your eggs, but if you diversify, run away, you might end up being completely safe.
The market normally moves as one.
The market moves as a single living unit...
Binance Coin produced waves in 2021 just like Bitcoin did.
Somehow, this isn't the case anymore...
While Bitcoin weekly is up, facing resistance, Binance Coin is down, facing support.
I have no idea what is going to happen.
We can never guess what the world has in store for us.
But something that you get used to having today, tomorrow can be gone.
TA
Binance Coin (BNB) is trading above MA200 as the last support.
This week it moved below EMA300 on multiple long-term bearish signals.
Here is the weekly MACD:
- Moved bearish.
- Red histogram.
- Jumping off a cliff.
This is in stark contrast to BTCUSD.
Here is the RSI:
- It sits at 36.
- Bitcoin's weekly RSI sits above 60.
What one does, the rest follows?
Nope... There is something going on.
The charts are giving a strong warning that Binance Coin might detach from the rest of the market and this can only mean the worst.
Namaste.
I've seen sometimes where funds become stuck for a long time while certain legal situations are clarified.
Sometimes a portion is lost, other times refunds can happen fast but with limitations...
What I've never seen is a smooth, painless ride when there is a sudden, surprise, out of the blue "change of management".
One of the most famous saying in the investment world goes like this: "Do not put all of your eggs in one basket".
This is of course a precaution method.
If you have all of your eggs in one basket and for whatever reason the basket falls, you are going to lose all of your eggs, but if you diversify, run away, you might end up being completely safe.
The market normally moves as one.
The market moves as a single living unit...
Binance Coin produced waves in 2021 just like Bitcoin did.
Somehow, this isn't the case anymore...
While Bitcoin weekly is up, facing resistance, Binance Coin is down, facing support.
I have no idea what is going to happen.
We can never guess what the world has in store for us.
But something that you get used to having today, tomorrow can be gone.
TA
Binance Coin (BNB) is trading above MA200 as the last support.
This week it moved below EMA300 on multiple long-term bearish signals.
Here is the weekly MACD:
- Moved bearish.
- Red histogram.
- Jumping off a cliff.
This is in stark contrast to BTCUSD.
Here is the RSI:
- It sits at 36.
- Bitcoin's weekly RSI sits above 60.
What one does, the rest follows?
Nope... There is something going on.
The charts are giving a strong warning that Binance Coin might detach from the rest of the market and this can only mean the worst.
Namaste.
Note
-----How Will A Binance Crash Affect The Cryptocurrency Market At This Point In Time?
It seems people are starting to catch up... These two pieces of news caught my attention for whatever reason.
(1) "As LeClair points out, this could mean that the United States Department of Justice (DoJ) is finally leveling charges against the crypto exchange."
Source: tradingview.com/news/newsbtc:20da3d820094b:0-bearish-signal-bnb-open-interest-skyrockets-to-new-highs/
(2) "A report by the Wall Street Journal stated that Binance slashed employee benefits last month." "News of the slashing of employee benefits comes just days after WSJ reported that Binance had fired more than 1,000 employees in recent weeks. Former employees told the Journal that several hundred additional customer-service personnel were laid off by the crypto exchange last week. Changpeng Zhao revealed in the company meeting that there could be additional layoffs every three to six months."
Source: tradingview.com/news/ethereumworldnews:54436c85b094b:0-binance-slashed-employee-benefits-due-to-declining-profits-wsj/
Now, how will this affect the Crypto-market?
It is mixed in my opinion.
The initial reaction is always negative and an opportunity for a strong market shakeout, but market cycle is king and short-term damage to one exchange will not cripple the Cryptocurrency market.
A crash followed by a strong rebound, strong growth.
Money will flow out of Binance to other Cryptos and push many pairs up... It will be mixed but positive after it all unravels.
I am telling you this so you can prepare ahead of time.
Retraces and corrections can be used as an opportunity to buy-in, rebuy and reload.
Bitcoin is about decentralization.
Look at the bright side.
The market will become healthier and more decentralized.
Make sure to diversify.
Play safe, stay safe, be safe... Greed is bad.
Be humble, stay humble and be happy with your profits.
Don't try to take all the money from everybody as this can fireback, just be happy with what you earn, receive, whatever...
The way to win is through service and helping others.
Sharing, the Universe/Life will take care of you if you do the right thing.
The Universe/Life also always balances everything so make sure your heart is pure when making decisions that involves the well being of others.
A great time to be alive that's for sure.
Share your comments and opinions... This is a big one.
Namaste.
Note
Just watch...Note
Negative news for these people folks... Remember to diversify and protect yourself in whatever way you best can. Hardware wallet."US prosecutors are mulling over whether to initiate criminal charges against Binance, thereby turning the heat on 13 civil charges filed by the securities watchdog against the top crypto exchange earlier in June, Semafor reported today (Wednesday), citing insider sources. However, the Department of Justice (DOJ) is worried that such action could lead to a bank run, throwing the exchange into a position similar to that of the now-bankrupt crypto exchange, FTX."
tradingview.com/news/financemagnates:a5ae76b7b094b:0-doj-weighs-fraud-charges-against-binance-worried-about-bank-run-report/
Note
It is time for the crash...Good thing they waited for the bullish wave to be over.
Get ready!
Prepare!
Namaste.
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