Bitcoin

<p style="text-align: justify">Famous <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">analyst</a> Crypto Capo, who has long been predicting a $12,000 drop for <a href="https://en.coin-turk.com/glassnode-analysis-liquidity-decreases-in-the-altcoin-market/" data-wpel-link="internal">Bitcoin</a> but recently abandoned this claim, has released an update on his Telegram page regarding <a href="https://en.coin-turk.com/renowned-analyst-forecasts-significant-upswing-for-binance-coin-bnb-and-possible-market-downturns/" data-wpel-link="internal">BNB</a>. The analyst warns investors that downward movements will continue for BNB.</p> 
<h2 style="text-align: justify" id="risks-ahead-after-bnb-price-increase">Risks Ahead After BNB Price Increase</h2> 
<p style="text-align: justify">BNB finds itself once again bouncing off the lower boundary of its established range, laying the groundwork for a critical turning point in its short-term trajectory. However, Crypto Capo indicates a strong resistance level in the range of $250-$270 as he monitors potential movements. He carefully observes the next direction of the altcoin and provides insights.</p> 
<p style="text-align: justify"><img decoding="async" class="alignnone wp-image-275720 size-full" src="https://coin-turk.com/wp-content/uploads/2023/11/crypto-capo-bnb-cointurk.jpeg" alt="bnb altcoin cointurk" width="1280" height="733"></p> 
<p style="text-align: justify">In his short-term evaluation, the analyst presents two different scenarios. Firstly, he points to bearish continuity and suggests that if the $250 level cannot be broken, it could open the way for a downward movement. In this case, the analyst mentions that BNB could reach $220. Such a drop would mean a return to the point where BNB’s price started to rise.</p> 
<h2 style="text-align: justify" id="negative-situation-for-bnb-high-entry-point">Negative Situation for BNB: High Entry Point</h2> 
<p style="text-align: justify">The analyst offers comments on what will happen if the resistance level turns into support in his second scenario. He emphasizes that the descent towards $220 would be invalidated and advises taking profits at this stage. The analyst says, “If I were you, I would take profits.” According to the analyst, the average entry level for investors in BNB is still at $301.</p> 
<p style="text-align: justify"><img decoding="async" class="alignnone" src="https://coin-turk.com/wp-content/uploads/2021/02/bnb-coin.jpg" alt="BNB kripto para" width="1200" height="675"></p> 
<p>&nbsp;</p> 
<p style="text-align: justify">Taking a broader perspective, the analyst points out that BNB has remained within a significant distribution range for over 1000 days. Ultimately, this long consolidation phase increases speculation about an ultimate collapse. As investors evaluate short-term scenarios, the question lingers as to whether the cryptocurrency BNB is prepared for a continuous downward trend following its prolonged distribution range. Let’s see if Crypto Capo will be proven right in the coming days.</p> Continue Reading: <a href="https://en.coin-turk.com/crypto-capo-bnb-faces-continuing-downward-movement-risks-ahead/" data-wpel-link="internal">https://en.coin-turk.com/crypto-capo-bnb-faces-continuing-downward-movement-risks-ahead/</a>

Crypto Capo: BNB Faces Continuing Downward Movement, Risks Ahead

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