Top Crypto Analyst Forecasts Big Move for Binance Coin (BNB) on Bitcoin (BTC) Chart – Here’s the Outlook
Popular analyst Jason Pizzino says Binance Coin (BNB), the utility of the world’s largest crypto exchange, is likely heading for a trend reversal on the Bitcoin (BTC) chart.
Pizzino tells his 279,000 YouTube subscribers that Binance Coin has potentially peaked against Bitcoin (BNB/BTC) following the pair’s nearly two-year bullish run.
According to Pizzino, the looming reversal could trigger a multi-year downtrend for BNB/BTC.
“We just started our first big month down to set up a potential top here on BNB/BTC. And this could last for two years from that point.”
BNB/BTC is trading at 0.013784 BTC at the time of writing ($230).
The popular analyst also says that BNB has shown clear bull and bear trends against Bitcoin since the pair launched in 2017.
“[From July 2017], 21 months up to the peak in April 2019. We know that Bitcoin found a peak around June 2019 from that point as well. So this picked up while Bitcoin also went up after the macro low, after the cycle low.
[BNB] then fell for 21 months against the BTC value, down to January 2021 and has since been up to the last peak of November 2022. So no one can argue that this is not a clear bull and bear trend over 21 to 22 months.”
According to Pizzino, BNB/BTC is likely to end its downtrend by Q3 2024 if the pair continues to repeat the cycle.
“Should this happen again, we have 22 months or 21 months until around August 2024. And if we wanted to go out in the 22 months, it’s going to be around September 2024.
So sometime around August or September 2024, this [BNB/BTC] chart can find a bottom.”
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