Prothius187

BTC decision point coming

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
67 0 1
BTC             has been supported at 4300 multiple times but the larger downtrend is coming to closure and it will either finally break through the support at 4300 or it will bounce again and turn bullish through exhaustion of the bears. Currently OBV is down trending while CCI is riding close to 100, which doesn't signal a bullish conclusion. I expect that if CCI breaks strongly upward and OBV changes to bullish volumes that we could see a strong move back towards testing 4600 level. If OBV And CCI instead trend downward, I expect that this downward pressure will attempt to break 4300 support.
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