LINKBTC: OBV Hinting At Sign of Weakness. Valid, Or Sergey?
*Idea only. Not a recommendation to buy or sell.*
For the first time ever, LINK's OBV, the signal I've personally relied on for continued strength over the last year, is showing signs of weakness.
Despite selloffs, LINK's OBV would remain almost strictly non-decreasing on the weekly chart. This is proving not to be the case this time around.
It should be questioned how valid this turn of events may be, however, since the Chainlink team has been one of if not the biggest sellers for the last two months.
It's also worth noting that the daily OBV is not showing this sign of weakness, and is instead quite stagnant.
On top of the OBV analysis, the 45-60 zone for the RSI is usually the spawn of multi-week LINKBTC rallies. Will this trend continue?
It will be interesting to see how this plays out.
For the first time ever, LINK's OBV, the signal I've personally relied on for continued strength over the last year, is showing signs of weakness.
Despite selloffs, LINK's OBV would remain almost strictly non-decreasing on the weekly chart. This is proving not to be the case this time around.
It should be questioned how valid this turn of events may be, however, since the Chainlink team has been one of if not the biggest sellers for the last two months.
It's also worth noting that the daily OBV is not showing this sign of weakness, and is instead quite stagnant.
On top of the OBV analysis, the 45-60 zone for the RSI is usually the spawn of multi-week LINKBTC rallies. Will this trend continue?
It will be interesting to see how this plays out.
