BITSTAMP:BTCUSD   Bitcoin / Dollar
If you use the weekly time interval and chart price back to the 1200 peak, you will find an interesting thing about OBV: we are at the same point, and we seem to have done a double peak. On the other hand, indicators like the RSI seem to be completing a H&S pattern which would be the beginning of a huge bear cycle. If this is the case, we could go back on the 300's or lower. I hope it's not, but it should be considered anyway.

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btc_joe PRO
a year ago
Bitcoin major pennant forming...
agreed, interesting points about the 1 week OBV and RSI on the bear side of things...im just going to wait for this pennant to break on good volume and go from there.
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purpurato59 PRO btc_joe
a year ago
Thanks for your comment.
On some of my previous ideas I also draw triangles, and their definition came nearly in the apex, which is not common for this pattern. "Following the book" this triangle should be defining already, but I guess BTC has its own ways and we will have to wait till the end of February to see.
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dangolbery
a year ago
Looks the same as September 2013 to me...
+1 Reply
purpurato59 PRO dangolbery
a year ago
I was checking for the OBV, you are right, things were quite the same.
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