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Top Crypto Analyst Issues Warning for Binance Coin, Says BNB Following Terra (LUNA) Chart Prior to Implosion

An analyst who nailed Bitcoin’s (BTC) 2018 backside is predicting an epic collapse for Binance Coin (BNB), the utility token of the world’s largest crypto change.

Pseudonymous analyst Sensible Contracter tells his 216,900 Twitter followers that he thinks the multi-year uptrend of Binance Coin in opposition to Bitcoin (BNB/BTC) has reached its conclusion.

“I feel the five-year uptrend in BNB/BTC has come to an finish. In my view, it comes down at minimal one other 40-50% from right here.” 

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Supply: Smart Contracter/Twitter

Sensible Contracter depends on Elliott Wave principle, a technical evaluation method that makes an attempt to foretell future value motion by following crowd psychology which tends to manifest in waves. Wanting on the analyst’s chart, it seems that BNB/BTC has accomplished the idea’s five-wave cycle and appears poised for a reversal towards the 0.618 Fibonacci degree at 0.007378 BTC ($123.33).

At time of writing, BNB/BTC is altering arms for 0.014369 BTC ($240.19).

In line with the crypto strategist, the chart of BNB/BTC appears to be like just like the value motion of Terra (LUNA) previous to its implosion in Might.

“Identical vibes.”

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Supply: Smart Contracter/Twitter

BNB in opposition to the US greenback, the crypto analyst predicts an enormous devaluation of over 66% for Binance Coin after it broke key diagonal assist.

“If I needed to guess, USD pair is heading to between $80-$100.” 

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Supply: Smart Contracter/Twitter

At time of writing, BNB is buying and selling at $240, up over 5% within the final 24 hours.

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Disclaimer: Opinions expressed at The Each day Hodl should not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual threat, and any loses it’s possible you’ll incur are your duty. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please notice that The Each day Hodl participates in internet affiliate marketing.

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