AVOID Conviction3/5 Analysis quality65/100 now
David Fuel expresses concern about BNB due to a multi-year descending triangle formation on its chart, with a critical support level at $210. He notes that Binance is under significant regulatory pressure from various bodies (CRTC, SEC, BOJ) and its offshore, unregulated status adds to the risk, suggesting potential for a 'gray or black swan' event.
“Now we think that this line is very important because we have touched it a lot before and it seems to be a highly defended level for Price action and BMB and given all the regulatory pressure binance is is under right now from the crtc SEC boj uh we want to keep an eye on it.”