Updated: Apr 1
Banano hodlers are currently under huge pain, but the pain unfortunately is not big enough to consider any kind of bottoming formation.
Current market environment is excellent for triggering capitulation cycle across BAN and correcting entire upcycle in form of classical expected C wave starting from 45 Sats.
The "coronavirus/stock crash" disguise is being used as an explanation for huge spot coin selling. The coins are being sold in very rapid strong waves, indicating that the intention of the sellers is bringing price down back as quick as possible with least coins used. 200 WMA is acting as strong resistance on low intervals and is considered as sell entry currently
The context of 35 Sats rally past year is also favoring capitulative scenario coming. The Whale Monkeys have hedged their holdings one year ago, during 3 months distribution between 20 and 25 Sats. They're ready to survive the winter for some time.
The capitulation should lead to hodlers experiencing heavy losses - especially these without access to insider information.
All factors and the context are favouring market capitulation, which should lead to levels sub 4 sats; however, as always in capitulative scenarios - we should expect more than common expectations.
The strongest trends emerge when least market participants are expecting them, as 4 -> 25 Sat rally has shown to us. There's huge probability of repeating the same trend, just in opposite direction.
The full cycle correction has to take place at some point and now is the perfect moment.
Don’t be the one crying, be the one profiting. Position yourself properly according to market trend.
Don’t be the one staying emotional about your asset. Adjust.