Bitpanda Ecosystem Token (BEST)
This simple analysis shows bullish breakout potential for Bitpandas Exchange Token (BEST).
+ Weekly RSI and MACD indicators both show a very strong bullish divergence.
+ After hitting the 0.236 the 0.382 Fibonacci retracement, price is building support in an Adam and Eve formation around the green 0.5
+ A breakout out of the falling wedge pattern that built up over nearly 2 years could mark the next major bottom.
+ We can also see strong confluence between 0.5 line (green), 20-Week Simple Moving average (dotted line) and the wedge border. Once broken, it could result into FOMO.
+ As long as Bitcoin can hold major lows, BEST could be up for a bullish continuation and therefore a move to the upside.
BEST is due to so-called token burns, a deflationary designed token of the Bitpanda Broker:
MAX Supply : Initial Mint 1,000,000,000 (April 2020)
TOTAL Supply: Down to 794.756.875 (February 2023)
due to a burn of Burn 205.243.125 (February 2023)
DYOR www.bitpanda.com/de/...anda-ecosystem-token
According to the BEST white paper, the token will always be part of the Bitpanda Ecosystem.
Also check out older analysis!
This simple analysis shows bullish breakout potential for Bitpandas Exchange Token (BEST).
+ Weekly RSI and MACD indicators both show a very strong bullish divergence.
+ After hitting the 0.236 the 0.382 Fibonacci retracement, price is building support in an Adam and Eve formation around the green 0.5
+ A breakout out of the falling wedge pattern that built up over nearly 2 years could mark the next major bottom.
+ We can also see strong confluence between 0.5 line (green), 20-Week Simple Moving average (dotted line) and the wedge border. Once broken, it could result into FOMO.
+ As long as Bitcoin can hold major lows, BEST could be up for a bullish continuation and therefore a move to the upside.
BEST is due to so-called token burns, a deflationary designed token of the Bitpanda Broker:
MAX Supply : Initial Mint 1,000,000,000 (April 2020)
TOTAL Supply: Down to 794.756.875 (February 2023)
due to a burn of Burn 205.243.125 (February 2023)
DYOR www.bitpanda.com/de/...anda-ecosystem-token
According to the BEST white paper, the token will always be part of the Bitpanda Ecosystem.
Also check out older analysis!
