TerryKinder

Bitcoin Price Fails: Triangles, Andrews' Pitchfork, OBV

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin price has fallen through all the triangles drawn on this chart - including the big green symmetrical triangle based on the $339.79 low.

Bitcoin price failed to reach escape velocity after breaking out of Andrews' Pitchfork and could never break above descending blue price trigger line. At this point, there is the possibility that price falls back into the pitchfork , taking price significantly lower.

On Balance Volume (OBV) failed to stay above critical black line. That failure, in concert with triangles breakdown, and failure of price to rise above buy trigger line, foreshadowed lower Bitcoin price.

Comments

The OBV tells me we can't fall any lower any more.
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TerryKinder ChartArt
OBV isn't at all time low. Just something I'm watching.
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what I will do with so many altcoins when price plummets??? I should have sold in November....
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how deep decline it could be? and when BTC could reach $2,000 or more? how about people who still didnot sold any single bitcoin in hope of upcoming price rise?
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