welcome back it's the 19th of november 2020 thursday. The fourth day of the week we are at number nine finance coin: new ticker, b and b what's up chum bing tao. I hope all is well with you uh one day. Maybe one day championship will be watching us, so maybe he might just pop a comment. Hello, hola anyway for bnb against bdc. We are, you know there was a. There was a collapse that came in for bnb right. We had a super spike up and then we had a super spike down right from the top to the bottom. We are down 50, just like that. So fast, it was so freaking fast right, um yeah from the very bottom here to the very top. How many days did it take to rise higher 78 freaking days from the very top to the very bottom here? How many days did it take to drop 66 days? So the momentum is towards the downside. You could feel the speed need to speed towards the downside, and so yeah things are not really looking that good for bmb against bdc i'm going to attempt to draw a resistance line here. Okay, i think we should do this. We should do this instead, maybe better uh yeah. We shall do this instead, it'll be better. Things are probably clearer. So if, if if this is the valid um support line, we should be seeing some sort of a bounce over here right.
There should be a bounce coming in. We are also very oversold on the rsi but of course, um. There is also a worst case scenario. We could be slicing through the support line and then things could be getting ugly right for bnb, so we're not really sure. What'S happening with bnb things are just not looking good at this point of time, when bnb was rising back up when there was a rally coming in, we thought that oh this was it and then bnb could be forming some sort of a continuation chat pattern towards The moon. That would be great, though, if it happened, but again, that's not the case right now for bnb and so there's, just nothing much that we can do. You know, except to wait for the bnb wheels to do their team and then once we see a clearer chart pattern, then probably we could be taking trades for bnb, but not until it becomes clear right. Normally waves come in trees or fives. So if this is a one two yeah, this could be a three wave structure and then pump it could be horizon or this could be a five wave structure. One two three right: four enemy can come back down for another five and then pump. We go higher right so again you have to be very, very careful about going to a trade too soon. This is just too bearish, in my opinion, to be calling long for, b and b, all right, let's move on to bnb against usdt.
But before that, please give this video a like. If you enjoyed it subscribe to the channel – and let me know what you think about bnb in the comments – be hello so for bnb against usdt, we are no we're, not exactly sure what's happening. All we know is that there is a potential for a five wave squeeze structure for bnb against usd absolutely possible, absolutely freaking lowly possible. But then again we are just guessing at this point of time. There is no indication that uh bnb is going to drop any lower. You could still start squeezing excuse me. Enemy could be going on a rampage towards the moon. That could absolutely happen for bnb it's, just that we are very, very, very overbought at this point of time very overbought and, to be honest, it will be in the best interest of bnb. If we, if you had a proper correction right freaking now and if you could correct towards, like maybe the um 0.618 golden retracement ratio, that would be even better for binance coin but again, i'm, not the will of bnb and so bnb is absolutely freaking. Lonely out of my country, it's out of our control, there's, nothing much that we can do except to be patient and to wait for the whales to pull the price lower. Then probably well, we could get in. You know we have to wait for some sort of a bad news to come in a bad event to happen before the price starts falling right.
We need, i mean the wheels need a reason to pull the price lower, and so we have to wait for the news you know to come out. I don't know there could be some bad news coming out. Uh but again we are not intellectual and so we're not going to be rushing into a trade until we have more clarity, all right, i guess that's it for my bmv technical analysis. Thank you very much for watching.