// BEGIN ENQUEUE PARENT ACTION // AUTO GENERATED - Do not modify or remove comment markers above or below: if ( !function_exists( 'chld_thm_cfg_locale_css' ) ): function chld_thm_cfg_locale_css( $uri ){ if ( empty( $uri ) && is_rtl() && file_exists( get_template_directory() . '/rtl.css' ) ) $uri = get_template_directory_uri() . '/rtl.css'; return $uri; } endif; add_filter( 'locale_stylesheet_uri', 'chld_thm_cfg_locale_css' ); if ( !function_exists( 'chld_thm_cfg_parent_css' ) ): function chld_thm_cfg_parent_css() { wp_enqueue_style( 'chld_thm_cfg_parent', trailingslashit( get_template_directory_uri() ) . 'style.css', array( 'font-awesome-v5','bootstrap','sidr','magnific-popup','sliderpro' ) ); wp_enqueue_script('custom-script', get_stylesheet_directory_uri() . '/custom-script.js', array('jquery')); } endif; add_action( 'wp_enqueue_scripts', 'chld_thm_cfg_parent_css', 10 ); // END ENQUEUE PARENT ACTION add_action( 'admin_enqueue_scripts', 'my_cfg_admin_enqueue' ); function my_cfg_admin_enqueue(){ wp_enqueue_script('custom-script', get_stylesheet_directory_uri() . '/custom-script.js', array('jquery')); wp_enqueue_style('style-cfg-child', get_stylesheet_uri(), array(), "4.2"); } add_action( 'after_setup_theme', 'remove_plugin_image_sizes', 999 ); function remove_plugin_image_sizes(){ remove_image_size( '2048x2048' ); remove_image_size( '1536x1536' ); remove_image_size( 'large' ); } function action_dynamic_sidebar_after( $array ) { if($array == "home-content-widgets") { echo the_content(); } }; add_action( 'dynamic_sidebar_after', 'action_dynamic_sidebar_after', 10, 1 ); add_action( 'trashed_post', 'mtp_delete_attached_thumbnail_for_trashed_product', 20, 1 ); function mtp_delete_attached_thumbnail_for_trashed_product( $post_id ) { // gets ID of post being trashed $post_type = get_post_type( $post_id ); // does not run on other post types if ( $post_type != 'post' ) { return true; } // get ID of featured image $post_thumbnail_id = get_post_thumbnail_id( $post_id ); // delete featured image wp_delete_attachment( $post_thumbnail_id, true ); }/** * The header for our theme * * This is the template that displays all of the section and everything up until
* * @link https://developer.wordpress.org/themes/basics/template-files/#template-partials * * @package CoverNews */ ?> Binance Coin gave up all the 2023 gains and some more. The bearish momentum is set to continue. – CoinsMegaNews

Binance Coin gave up all the 2023 gains and some more. The bearish momentum is set to continue.

2 years ago CryptoExpert
Binance Coin forms a descending triangle above important support area. 2023 gains are gone.

[ad_1]

Binance Coin gave up all the 2023 gains and some more
The bearish momentum is set to continue
All hopes are on Bitcoin and a reversal of the US dollar’s strength

The US dollar makes victims in the cryptocurrency market. One example is the Binance Coin or BNB. 

It gave up all its 2023 gains and some more, and the perspective remains bearish. 

The chart below tells much about what 2023 meant for the BNB/USD rate. It all started with Bitcoin rallying from $16k to $30k. 

Naturally, other coins followed as the enthusiasm in the cryptocurrency market grew by the day. 

However, Bitcoin met stiff resistance at $30k. It failed to overcome it and still consolidates around the area. 

But other coins did not consolidate levels. Instead, they declined sharply, falling to the dollar’s strength. 

A combo of the US dollar’s strength and loss of faith in most coins led to the sharp selloff. If Bitcoin, the last one standing, also gives up its gains for the year, then the cryptocurrency market is about to witness another major selloff. 

Hence, all hopes are in Bitcoin and a US dollar reversal. 

BNBUSD chart by TradingView

BNB/USD keeps forming bearish patterns

After it reached the $300 area while Bitcoin rallied, BNB/USD failed to hold the levels. Moreover, it formed a triangle that acted as a reversal pattern (in red on the chart above). 

Such triangles usually form at the end of complex corrections. Its nature suggested a full reversal of the 2023 move.

Furthermore, the drop to the $200 area saw no bounce at all. Instead, the market formed two continuation patterns. 

If the $200 level gives way, BNB/USD might see another leg lower, as the bearish patterns suggest. Only if Bitcoin rallies and/or the dollar reverses its gains should BNB/USD end the bearish momentum. 

Share this articleCategories

[ad_2]

Source link

Tags:

More Stories

OKX launches public mainnet for its ZK-powered L2 network “X Layer”

OKX launches public mainnet for its ZK-powered L2 network “X Layer”

1 year ago CryptoExpert
Crypto funds register $126 million in outflows led by investor hesitancy

Crypto funds register $126 million in outflows led by investor hesitancy

1 year ago CryptoExpert
ORDI, Fantom, Aave prices lead losses as BitBot defies gravity

ORDI, Fantom, Aave prices lead losses as BitBot defies gravity

1 year ago CryptoExpert
ZachXBT Unmasks Frauds on Ethereum Layer-2 Networks

Fraud Syndicate Targets Ethereum Layer 2: Base, Blast, Arbitrum

1 year ago CryptoExpert
Crypto crashes result in $783 million in long liquidations in the last 24 hours

Crypto crashes result in $783 million in long liquidations in the last 24 hours

1 year ago CryptoExpert
Polygon (MATIC) Investor Skepticism Grows Ahead of Price Correction – What’s Next?

Here’s Why Polygon (MATIC) Price Faces a 35% Correction

1 year ago CryptoExpert

Leave a Reply

Your email address will not be published. Required fields are marked *

/** * The template for displaying the footer * * Contains the closing of the #content div and all content after. * * @link https://developer.wordpress.org/themes/basics/template-files/#template-partials * * @package CoverNews */ ?>

You may have missed

Free Slot Machine No Download And Install: Play Your Favorite Gambling Establishment Games Instantly

4 hours ago xtw18387208b

Online Casino Free Slot Machine: A Comprehensive Guide to Online Slot Machines

4 hours ago xtw18387208b

Ideal Neteller Gambling Enterprises: A Comprehensive Overview

1 day ago xtw18387208b

No Account Casino Site: The Future of Online Betting

1 day ago xtw18387208b