BTCUSD

Not convinced to take a position in either direction yet, but were certainly due for at least a short term decision soon. OBV has not been below green box since October 2017 and it is now consolidating between this support and the downtrend line. There is a pretty clear bullish divergence on the RSI but that is not enough for me to long as cloud is still completely bearish. Want to see a rally with price able to break above Tenkan & Kijun and close above 6.9k that could possibly lead to a test of the 7.5/7.8k levels where we could see price try and push to finally make a higher high. If OBV cannot break trendline and support breaks we likely still have a lot of downside to go with 5.4/5k as potential support levels. the 200 EMA on the weekly chart is around 3.6k which would be an ugly return to the mean for bulls but a prime buying position for bitcoin. Most bears I have seen have targets in 3k range and I think that price is just too cheap for anyone to remain bearish.


I would like to long 6.2k resistance turning support up to 6.9 potentially 7.5-7.8k
I would like to short 5.8k becoming resistance down to 5-5.4k