BNB (BNB) Mimics Pre-Halving Market Behavior, Sets the Stage for an Explosive Rally

Key Takeaways:

After the last Bitcoin halving, BNB took some of the most surprising steps, Master Kenobi tweeted recently. It has been 264 days in an ATH zone when anything can happen and surprises are around each corner.

That puts the cryptocurrency today in roughly the same place it was versus the last Bitcoin halving. And if history can serve as a guideline, the price is about to go through the roof. Estimates put BNB’s orange line at $3,400, and its red line at $8,500. If so, altcoin season will be officially on.

A Structure Worth Watching

Comparing the price action of BNB to Bitcoin over two cycles, there is a structure here that seems to be closely lining up with the 2021 cycle. And it has passed the volatility period around 263 days into that market when the cryptocurrency began a very sharp price move upward. Back then, it was only about 21 days from the local bottom.

Now, however, 47 days have passed since the current bottom. This could be a sign that a new phase is beginning, where the market may start to show more convincing signs of bullishness. The cycles don’t have to match perfectly, but the comparison gives a good idea of where the cryptocurrency currently is in the market.

Opportunity Looms for BNB Holders

As for immediate trading opportunities, it sets up a structure for what could potentially be the final buying opportunity. At least, that’s the point being made in the analysis. The green stage is now showing for BNB, though it’s expected that the red will come along real soon.

Green stage: 1 day 3h

Red stage: 1 day 2h

A potential last opportunity to buy could be tomorrow where the yellow arrow indicates.

In 2 hours the RSI should go above the MA on the hourly chart. pic.twitter.com/lQWU198kGo

Tomorrow, that level will mark an important date where the RSI can break upwards above the MA on an hourly chart; then, the price can set the stage upward. Investors would not want to miss this as a signal showing that BNB is about to make a great shift in the price trajectory.

The market behaviors of BNB have tended to mirror patterns set in previous cycles that perhaps could give it some hints about its performance. If the past is any indicator, BNB could scale explosively, and the much-wished-for altcoin season may actually start pretty well sooner than expected. Coming days will be vital for a determination of whether the same history will once again repeat itself.

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