The relative strength of BNB

BNB has in this period been bleeding on it's BTC pair; which is quite normal at this point of the cycle...

As of right now the trend seems to be going down in the long term, however if good news in terms of regulations for Binance were to come, I do believe we could see a switch in the direction of the valuation for BNB

History doesn't necessarily repeat, but it does rhime
In one of my previous posts I talked about the price action of XRP changing once the case with the SEC would have a conclusion, this is obvious, but the timing of which it happened (when looking at price action) genuenly made sense. I see a similarity here with BNB.

BNB still not looking good
The TPI is still bearish on BNB both in the mid-term and long-term!

Relative strength compared to ETH

Not very different than BTC, same conclusion


Please don't hesitate if you have any questions! Stay safe
I'm not saying to LONG or SHORT BNB now, i'm simply saying that we are at an important price level both in terms of the valuation of BNB and the relative valuation compared to BTC and ETH! Look careful, and don't take long term trades that aren't supported by external market effects!

Commento:

Re-test on support