The left chart shows a Moving average ribbon and it can be seen that as the ribbon compressed in the past it was followed by an expansion and a rise in price.
The right chart shows a consolidation period with a lot of accumulation. The price has flipped the resistance level ( which was the previous historical low) and will most likely test it.
Also the On balance volume has had higher lows over the past few months further supporting the theory of accumulation.
The use of the MA (lagging indicator) along with OBV (leading indicator) is quite useful to spot possible reversals.
Sell zones : 2900 sats
Sell zones : 3400 sats
Sell zones : 4200 sats
*Note: This is not financial advise. Please do your own research.
The right chart shows a consolidation period with a lot of accumulation. The price has flipped the resistance level ( which was the previous historical low) and will most likely test it.
Also the On balance volume has had higher lows over the past few months further supporting the theory of accumulation.
The use of the MA (lagging indicator) along with OBV (leading indicator) is quite useful to spot possible reversals.
Sell zones : 2900 sats
Sell zones : 3400 sats
Sell zones : 4200 sats
*Note: This is not financial advise. Please do your own research.