jamoooo

Bitcoin (BTC) - Can BTC hold the OBV trend break?

jamoooo Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
I made a brief post yesterday about BTC RSI resetting on the 50 and getting a possible bounce form there, much like we got on September 17 (circled in chart). This bounce has fortuitously happened and we are now looking at situation that looks a lot like the push up before a significant drop on Sept 18. In the same way RSI is currently testing the top trend, importantly, OBV has broken trend which it failed to do on Sept 18. If you follow me you will know I like OBV trends, and I place some bias on this indicator. If the OBV trend break can hold I see this as a indicator of continued up side. If it fails to hold, we may be looking at a strong pullback (possibly a healthy pull back) to the 45-46k zone and the testing of a possible higher low here, and the return of MACD to the trend marked in chart. Or do we see a MACD cross, the OBV break hold, and RSI work up through to break trend too? I will be keeping an eye on these indicators

If we do go down to test a lower high structure (which will still be a bullish structure) I will be looking for the RSI to reset below the 35 for a hidden bullish divergence and the hope of a continued upward move, the MACD to hold trend, and the OBV to find support on (at the very lowest) my main red trend line, but preferably the green horizontal marked on the chart. If these criteria fail I will be expecting further downside.
Comment:
*correction: if we go back down to test a higher-low
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