In this post I’ll briefly describe the use of BNB as a powerful indicator of BTC sentiment, and vice versa: BTC movement and consolidations as a betting indicator on the BNB/USDT exchange.
This is a close-up of the interaction in the past. A consolidation in BTC (which seemed like a support floor to crypto buyers) resulted in a large climb in BNB value. At its most basic, this is caused by traders buying into BNB to pay for upcoming transaction fees. At a more advanced level we can expect weary BTC investors to cash out into the more reliable BNB commodity.
So when BTC consolidates near a floor, expect a spike worth capitalizing on.
Now take a look at the BTC/USDT and BNB/USDT market comparison since the initial spike and crash.
Since the first floor at 6000, you can see BTC market sentiment is slowly accumulating momentum via the growing BNB sticks overlaid. Use this knowledge wisely, but be ready for unexpected price deviations as always.
