BNB/BTC Locked and Loaded with Pennent
In the past recent cycles, it has not been uncharacteristic for the RSI to get out of hand, so despite it being currently overbought, there is a lot of promising momentum around BNB. This is also backed by recent fundamental analysis that Binance plans to migrate to a decentralized exchange.
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Alerts Triggered as we start to break through the ceiling. RSI is doing its' typical jig as well.
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The past 2 pumps where the RSI blew up and gains were in the 20-35% range, both lasted about 2 days and 4 hours, so if we see a similar behavior, thats around the time frame we will be seeing on this.
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Looks like thinhgs went at as planned... but the RSI is still low, meaning we didnt see an explosive gain yet. This could be the time to set a sell limit if looking to exit.
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Just wanted to remind traders out there to be weary of using just a single indicator.
I happened to come across multiple users warning of the potential of BNB/BTC on tradingview because of the RSI. Keep in mind that right now... of the 18 indicators out there, RSI is the only one indicating a sell for BNB. It is a strong buy, and has been a strong buy for almost a week now. If the RSI spooked you, you are missing out on the cream of the trade.
I happened to come across multiple users warning of the potential of BNB/BTC on tradingview because of the RSI. Keep in mind that right now... of the 18 indicators out there, RSI is the only one indicating a sell for BNB. It is a strong buy, and has been a strong buy for almost a week now. If the RSI spooked you, you are missing out on the cream of the trade.