Why is this trader expecting a big rise from Binance Coin (BNB)?

Binance Coin (BNB / USD) is gearing up for a major bullish move in the coming sessions, a trend that could push the stock token above $ 450. The analogy comes from an independent analyst on Twitter using the Crypto pseudonym. Kaleo distributes daily cryptocurrency updates to 142,000 subscribers. Kaleo predicts a wild bullish rally on the instrument BNB / BTC, comparing the current price action of the pair with the price moves from last month, comparing BNB / USD to a parallel instrument, BNB / USD, with an all-time high of $ 422. February 2021, BNB / BTC reached a new high in the breakout move following a consolidation move below a trend line and a falling trend (0.0032 satoshi). After reaching 0.0067 satoshi as a breakout target, the pair began consolidating again under a new bearish trendline pattern. This time, however, days waited before the bulls continued to go upside down. Later, the BNB / BTC pair consolidated near the level corresponding to the falling trend line at 0.0067 satoshi. "The first one in mid-February, then it became almost vertical," said Crypto Kaleo, referring to the table below. "I expect something similar here, but probably a little slower given the high market value / longer constitutional period before this." Notice how the two ATH outbreaks have large fuses / spark plugs. Source: BNBBTC Analysis on TradingView.com came as the cryptocurrency market is in danger of falling under the influence of Bitcoin in general. The BTC / USD exchange rate again failed to record a breakout move above $ 60,000. Traders relaxed their bullish positions to secure short-term gains and dropped the pair to $ 55,400 on Wednesday. He tried to rally with lower volumes on Friday. BNB basics are generally based on the Bitcoin market. The effectiveness of the correlation between the two assets is currently close to 0.75. The general market consensus for Bitcoin is showing an upward trend. Mea Read more

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