BNXASignificant breakdown on Friday with daily/weekly close well below 4 $.This was related to a couple of blocks being sold in the middle of the day .Small buy at the and of the day .This was on somewhat higher volume of about 300k shares in Canada.
The narrative being put forward on this board that all is great with Banxa ,does not seem to be panning out too well,as I have been saying for weeks now .Since the close of the private placement there has been persistent selling taking the price down well over 50%.
The Crypto market is bumping along the bottom in the range of 30-36K for Bitcoin .Alt coins and even ETHE doing significantly worse this week.
Both Bitcoin and the Alt coins are trying to decide if this is a bear market or a severe correction.Technically it looks like a bad correction as no typical ABC waves are seen which would indicate a bear market per Elliot wave theory .
Dangerous time to buy more until things are clarified in the Crypto markets .there was very little buying associated with the revenue report for May .
From a sentiment point of view (a negative indicator),there were lots of bullish notes and retail investor interest(as judged by the number of people apparently reading those rubbish pumper posts when bnxa was overpriced at 8 $ a share ,number of pumper notes has declined and the number of reads down by 50% ,not yet an indication of a panic selling bottom .