My personal reflections and trading diary:
The OBV indicator I find quite reliable with BTC in gauging breakouts and maintaining confidence lines to support price movements, up and down
Recently, BTC 4hr OBV on Binance has maintained the triangle it established with the may/june drop, despite the recent FUD created through peoples bank of China reporting. The increase in volume with the recent rally now has BTC reaching one OBV 4hr top trend line - watching to see if a rejection here takes us lower, or points the way toward a move up in the coming days.
Daily obv shows that trend has been maintained since may/june drop, with two points of significant capitulation indicating to me notional bottoms, reading from the volume signature, these occurred 21/6 and 21/9, with the recent FUD drop rebounding from the OBV trend, without breakout. This does not mean it cannot trade lower, but is a positive indicator in deciding whether or not to hold trades. Note that the OBV here indicated where BTC would likely rebound and did
I will be watching this OBV top trend for a rejection and possible retest of the bottom trend line, or break upwards and a sign of positive price movement in the coming days
The OBV indicator I find quite reliable with BTC in gauging breakouts and maintaining confidence lines to support price movements, up and down
Recently, BTC 4hr OBV on Binance has maintained the triangle it established with the may/june drop, despite the recent FUD created through peoples bank of China reporting. The increase in volume with the recent rally now has BTC reaching one OBV 4hr top trend line - watching to see if a rejection here takes us lower, or points the way toward a move up in the coming days.
Daily obv shows that trend has been maintained since may/june drop, with two points of significant capitulation indicating to me notional bottoms, reading from the volume signature, these occurred 21/6 and 21/9, with the recent FUD drop rebounding from the OBV trend, without breakout. This does not mean it cannot trade lower, but is a positive indicator in deciding whether or not to hold trades. Note that the OBV here indicated where BTC would likely rebound and did
I will be watching this OBV top trend for a rejection and possible retest of the bottom trend line, or break upwards and a sign of positive price movement in the coming days
Confirmation through other indicators needed too. Fast moving RSI and MACD on the 4hr are currently in very neutral space for me. half way between support and resistance of trend. This means there is room to move up, but OBV trend resistance is what I believe BTC is stalling on currently