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• BNB/USD forms a possible bearish flag sample
• The US dollar strength is not responsible for the BNB/USD bearishness
• $200 supplies help for now

Bitcoin rallied in 2023 and holds onto its good points. Most different main cryptocurrencies did so too, however some exceptions exist. 

One is Binance Coin (BNB). 

Sure sufficient, it rallied at the begin of the yr, following Bitcoin’s lead. But then it gave up all of its good points – and a few extra. 

One can’t blame the US dollar’s strength as the trigger for the BNB/USD decline. After all, the dollar’s strength is not seen in different cryptocurrencies. 

Instead, it seems to be the Binance Coin that trades with a bearish tone. That is significantly true if one seems to be at the technical image, which exhibits the bearish stress constructing as the market nears the $200 help stage. 

Binance Coin chart by TradingView

A bearish flag sample means that BNB/USD will break the $200 help stage

A bearish flag sample is a continuation sample forming in a downtrend. The consolidation space follows a steep decline, and the breakout or the measured transfer equals the distance that the market traveled previous to the consolidation. 

If, certainly, BNB/USD fashioned a bearish flag sample, then the help in the $200 space ought to give means. The sample’s measured transfer, seen in orange above, factors to $150 and decrease. 

What ought to fear buyers is the incapability of the market to bounce whereas different cryptocurrencies maintain close to their yearly highs. It factors to different components weighing on the market, completely different than the US dollar’s strength.