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Ni6HTH4wK
Jul 16, 2014 2:42 AM

OBV Crossroads with Bullish RSI Long

Bitcoin / U.S. dollarBitstamp

Description

OBV is at a major intersection here. RSI is bullish. We could also go down and touch the rsi support again. But I doubt it only because we only just touched it on the 10th. If we have a failed rally here, I fully expect a dump down to $590 or so. It might be a slow one so that RSI doesn't fall too far too fast. I really don't know why we haven't fallen after crossing the longterm support trendline, but maybe we're just waiting for a respectable high before we drop down. After a bull run, I expect our first stop to be about $650 only because that has been the top for a while now.

I'm already long @ $620 but I'm fully prepared to change it to a short if we move past $615.

BTW: BTC-China just had a big buy of about 400btc. Not real important but could be an indicator for a whale that doesn't want to alert the rest of the market because he wants to buy more.
Comments
ChartArt
Is your "Super OBV" just the standard OBV but with two colors or does it use different settings?
Ni6HTH4wK
Yes. It figures out if the candles are green or red and colors it based on majority.
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