2 reasons for falling prices for Binns Quinn in year 2

In the past few days, the outflow of capital outflow has declined and the situation seems a little slower than before. Meanwhile, a review of technical indicators and fundamental factors shows that we probably have to wait in the early weeks of the year.

According to Kevin Telegraph, Binens Kevin has entered the phase of its multi -month ascending triangle pattern failure from technical analysis; A continuing or continuous pattern. This supportive failure can continue until the price reaches a level that is equal to the maximum height of the triangle.

In other words, the pricing price of support for the current uptrend triangle pattern is about $ 2; Approximately 2 percent lower than the current level of Kevin. As you can see in the chart below, the price of the “BNB/USD” pair may be reduced to the level until January.

At present, it appears that the Bains Kevin’s supportive defeat has been stopped near $ 2. Where it has historically acted as a level of strong support; Including the price of the price caused by the collapse of the Tora Network on May 1.

On the other hand, given the formation of the ascending currency pattern on the four -hour chart of Binens Kevin, as you can see below, the BNB can also test the return from $ 5 as its support line.

Increase the shorts of shorts of shorts

Technical examination of the Binens Quinn, from another perspective, shows the increasing increase in shorts of shorts.

The decline in the price of the Binens Quinn, which we have seen in recent days, has coincided with the increase in the volume of Open Interest. The rate that reached more than $ 5 million on December 5 and is the highest level of open contracts since November 1. Increasing the value of contracts at the same time as prices decline shows that traders are opening new shorts in the BNB market.

Open contracts are those derivative trading positions that have not yet been settled.

Wake (Zerohedge), an Options market analyst and analyst, says that if bitcoin falls more, BNB will probably face a big problem. The daily correlation coefficient between Bitcoin and Baynens Quinn has been positive in most of their history.

He wrote in tweets:

The first goal will be $ 2.

Fear of the possibility of bankruptcy increased harvesting?

From a fundamental analysis point of view, Binens Kevin seems weak due to the raising legal problems of his mother’s platform, Binens. The bonding currency exchanges may face possible criminal charges of money laundering and violations of sanctions.

In addition, the FTX currency exchange bankruptcy has created a doubt among investors over binoculation. Many believe that binns, like the FTX, may have used BNB token as collateral for loan. While the Baynnes has rejected such rumors, the financial transparency of the collection has not so far helped to stop the downtrend of Binens Kevin.

In addition, based on the data released by NANSEN on December 5, the increasing reliability reduction has prompted customers to harvest $ 1.2 billion in dollars in a week. Later, Binhenn stopped the YSD’s harvest; A Queen’s stubble supported by Cirly and Kevin Base. The decision has also partially fueled the bankruptcy of the currency exchange.

Also Read: What will happen to Bitcoin if the Baynens fall?

Chang Pong Zhao, CEO of Binens on December 5, pointed out that their currency exchanges had more perceptions during the collapse of Tara (Luna) and FTX, and compared the risk of currency bankruptcy. He made himself trivial. He added that their ability to process customer harvesting requests is like doing a stress test correctly.

Zhao said.

Now, deposits are returning.