Everyone is watching BTC, there is an expectation of a further drop and even a continued bear market. I am in the neutral camp with the current price action, with a bullish bias - I think this is an attractive area to be speculating long. There is currently a confluence of indicators telling me that we are ready to retest the 54 and possibly 59k range. OBV...
Take a look at the consistency of the (Binance) 4H OBV trend, which remains for me very instructive. I use the Binance volumes as they are the largest but I am looking to script something that draws OBV data from all the major exchanges to see if it yields anything actionable. But the Binance 4H OBV has remained remarkably instructive - this is part of the reason...
For those looking for some good news, there is a significant divergence over the past week between price and OBV on the 4H.
I find the 4H OBV with BTC to be the most actionable time frame for trends and trend breaks (the higher time frames I use more via levels).
It is very unusual to see the OBV clearly trending up while price is so significantly trending...
Relief rally is in, made some good gains on ROSE, ENJ and SOL.
Now BTC is under support-turned resistance at 58500
If we see a rejection here my primary area of interest is the 54k zone (53800 is a key level I have marked out). If we break through next resistance is 62-63k range.
Looking at the 54k range: This level was previously support and a big value area...
Bitcoin has been fluctuating, likely this is Market makers hunting stops. Regardless, my targets remain the same. Want to see the daily close above 60k. Then I will think about increasing my position on BTC . I got a good jump on this recent rally with my previous post but got stopped out of the trade I opened on BTC at 58k with the dive a few hours ago. The...
Bitcoin Daily chart is the one showing greatest signs of a stall or retrace for me currently. Weekly is still overall bullish, but daily is showing volume grinding at a key level, lagging behind price. Other signals here are the MACD histogram (D) which is trading as high as it has all year and declining (though we are yet to see a typical second effort on the...
For all those anxious about the retrace - here are some confidence lines we might choose to follow. BTC has established a clear 4H OBV trend channel (4H is my favoured time frame for this kind of OBV analysis). For those anxious about a pull back we can use these channel trends as confidence lines. We have 2 hours left on current 4hr candle, if it closes red we...
Bitcoin is currently breaking out of the top trend of the macro OBV channel it has been trading in since late June. September 25 I posted about bitcoin breaking out of the local declining OBV distribution channel and a possible rise in price of 25-50% to follow, replaying both the OBV trend break and rise that occurred in July (both circled on chart). This...
Bitcoin has been making bullish moves, and I have been looking for signs of a pullback and when it might happen. Buyers have broken the global trend and are trying to hold that level, but it feels like now would be a healthly time for a pull back or consolidation. We have appox 2 hours left on this 4H candle and if it finishes red, depending on what volumes we see...
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,...
