2 months ago when SEC cracked down on a lot of coins, I was bullish on many of them and thought most of them can be bought for the bounce. EXCEPT one coin and that was BNB, for obvious reasons, it is coming under attack by every Western country. So it looks to me BNB is still headed to the 210s as it is likely to break out of this rising channel it is currently in. I've said many times not to short BNB because CZ has lots of funds and he can defend BNB and short squeeze. So I don't know when to short BNB, but it looks high probability it is going to 210s, especially if BTC were to make the pull back I've been talking about. And on the weekly chart this 200 area is an obvious MUST-DEFEND for BNB, and if BNB gets below that level then it becomes like FTX getting below $21. A lot of shorts would pile in, and maybe that would give us the FINAL flush in all cryptos. I'm not sure this will happen, but I am just warning that this 200 level on BNB is a huge level to protect for ALL cryptos. Since Binance is the largest exchange by far, so if BNB were to lose that 200 level and then it would crash, then that is really bad for all cryptos.
That is just a possibility to keep in mind, markets are about managing your risks, I'll update as things progress.