PI continues to exhibit a bearish structure, with momentum indicators reinforcing the downtrend. The Balance of Power (BoP) indicator currently reads -0.49, signaling that sellers remain firmly in control. This negative reading reflects a market dominated by sell-side pressure, with minimal resistance from buyers.
As the BoP measures the strength between buying and selling forces, a sustained negative value implies continued bearish momentum. Unless new demand emerges to offset this trend, PI could see further downside in the short term. Traders should watch for any signs of reversal or increasing buy-side strength before considering long entries.
As the BoP measures the strength between buying and selling forces, a sustained negative value implies continued bearish momentum. Unless new demand emerges to offset this trend, PI could see further downside in the short term. Traders should watch for any signs of reversal or increasing buy-side strength before considering long entries.
Full story here beincrypto.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Full story here beincrypto.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.