I'm seeng some divergences on OBC indicator. Here are some highlights about what I am seeing on the chart
FIRST: ALways fo your own DD, understanding TA is not an exact science, it's an art... but it's beautiful - the harmony, patterns, predictability... but we are talking probabilities here 3/5.... so just undesrstand that. You have to approach TA with humility. Nonetheless, here is what I see -
1) signals on OBV, coiling (getting ready for move), momentum coiling - price action and has been more , no bulls to be found
2) Price drops typically happening later in the week, professional money making moves
3) Look at last price drops, 40-50% in one day. Thus the range I am saying $90-60 is within that range
4) The range I provided has a couple of things converging - 1) Fib retracement levels, see .85~ level 2) C leg down range 3) Most recent corrections.
I don't have a position, I took profit and am looking to re-enter upon drop.
I update range daily during week