BNT Inverted Head & Shoulders

25 בפבר׳ 2021

BNTUSD

Assuming bitcoin goes on another one of its mid-day diving missions (fun times for us swimmers!), I see a potential impending wick down to around $4.9 in about half a day, if not sooner, after which I see the right shoulder formation depicted on my chart playing out. Again, this is assuming bitcoin goes for a dive.

So I'd place a few limit orders in that area. BNT has proven its mettle on so many occasions in the last week, giving up little ground in the midst of dramatic headwinds brought on by bitcoin's ever more frequent price swoons.

That is in stark contrast to what we're seeing from its competitors in the over-saturated altcoin sphere, which for the most part wither away in the face of any turbulence however slight (e.g., BAND, CGLD, & AAVE).

Happy trading!