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It has been a long time that I didn't share my thought about the BNB coin. For those of you who don't know what is BNB, in fact, BNB
is a native coin on BINANCE the first largest crypto exchange in the world. Every quarterly, Binance burns its own Coin. The BNB 16th, quarterly burning has been starting on April 16th, 2021, and closed on July 18th, 2021. There were USD595M in BNB has been destroyed. BNB found its resistance at 547USDT and down to 427USDT, but after the token burning BNB pump up to 591 high.
Well, the BNB 17th quarterly burning has been starting on October 18th, 2021. There were 1,335,888 BNB has been burned then. What I remember is that after having to destroy Token, it flips down before the huge pump start. So if it is the case, where will BNB find its support level while the market pullback this week? Let's look at my thought and opinion below.
In the chart above I retrace Fibonacci and in minor level at 0.35 is my support level in BNB or 435USDT and measure which is my target up to 1000USDT. I am a little bit optimistic in this analysis and prediction of where I am going furthermore with BNB in this Q4 Burning. I don't know if the 17th quarterly burning will make BNB's lovers proud to HODL it or disappoint them but I think CZ will not disappoint us while the market is bullish before winter 2022 will begin.
This is my thought opinion about 17th, Q4 BNB burning. I want to know what you think by leaving it in the comment below.
Remember it is my own opinion and not financial advice or any kind. If you can't manage risk in trading buy and HODL
Happy trade and be wise everyone.
