ðĨ BNX Severely Oversold After 1:100 Split: Bounce Opportunity
BNX is a token which I've been following for some time now. Looking at the chart, the recent 1:100 split has been a classic buy the rumor & sell the news event.
However, the underlying fundamentals haven't changed at all. In the contrary, the split was likely a good decision.
BNX is currently severely oversold. In my view, it's too far oversold, so some kind of bounce will come at some point in time.
I'm waiting for BNX to confirm a higher-high by closing above the dotted purple resistance. Targets in blue. Be patient.
However, the underlying fundamentals haven't changed at all. In the contrary, the split was likely a good decision.
BNX is currently severely oversold. In my view, it's too far oversold, so some kind of bounce will come at some point in time.
I'm waiting for BNX to confirm a higher-high by closing above the dotted purple resistance. Targets in blue. Be patient.
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