$BNB to USDT chart shows a massive massive bull run.
2017 was an accumulation period for this coin. First of all we see how much the Binance exchange is growing among US users and users from the rest of the world, particularly Asians. Also, we see that it has clearly started a parabolic trend. Last year this coin was hovering between $2 to $5. When we broke out of those levels on late December, we really have gone into a parabolic state. If u are a short term swing trader this could be a good place to pull out or at least to take some profits. We look to have completed a 5th impulsive wave that brought us from $3 to $20, that is about a 700% plus return. However, if you are more of a longer term trader or as we refr to in the crypto world a hodler, then there is no reason to panic. Currently it looks like we have peaked but in reality this is just a correction of a bigger trend. Right now $BNB is on a correction after a big impulsive move but we still have more room to grow and the move that is about to come will be very very impulsive. This 5th wave we are about to have should be almost vertical similar to the breakout of Etherium in 2017. below you can take a look at their relations.
In this chart ETH to USD in the beginning of 2017 shows a very similar patern to the one playing out on BNB, suggesting we still a lot of room to grow in the short term, and that we need to be prepared to take profits at the top
This coin in particluar seems to have a personality that likes extended consolidation periods. in fact i was impressed how @vincentbriatore called out a buy signal right at the end of the consolidation period and soon after it breakout from $10 to $20, making a 100% return in just about a week.
If u see this chart it seems clearly as if right now we are in a corrective wave after the impulsive move upwards we just had.
CONCLUSIONS
If you are a holder for long term no reason to panic.
If you are a trader please take your profits, even if its just a portion.
If you are looking to buy, buy it between $14 to $16.
Mid term target of $48.
Long term target $100.
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