I drew a triangle based on OBV's 50 hour moving average (orange),
and mirrored the triangle on price.
Red and green areas are 80/20 % overbought / oversold zones.
At this moment we are in the overbought zone so you can try a short here.
I expect a big move of ca. 50% after price breaks out of the triangle.
Targets:
Upside: 333-375
Downside: 130-90
Cheers :...
Well I've been busy recovering from my vacation which was 3 time zones away. Threw me off my schedule making me not want to do anything. Then I had to go through 100+ photos, toss the bad ones, and finally post process them all. Made it through all that yesterday. To add to that, I have been rather lazy and just wanted to relax a bit. Well time for some...
Much technical analysis is overly complicated. In the past, much of my most profitable discretionary trading, and now much of my automated trading, relies on the signal from On Balance Volume. I have set an alert on the weekly OBV line on Coinbase precisely because it has provided a long-term buy signal with a strong R:R.
We have a down trend. As you see, OBV could make a new top but price couldn't, so it's a bearish hidden divergence and the price probably will go down!
obv just popped from a liquidation it seems. it also seems that the price is massively underserved so far in this bull run. i think we'll see some great moves out of doge in the weeks to come!
Prices are going up without OBV response.
I think SPY will go down for another leg.
I think 408 and 426 are regions likely to push down.
Retration lines are not fibonacci but 1/3, this script:
#disclaimer: this is not a recommendation but a mere study.
$BTC OBV went down a little.
If it goes like this for a few weeks and it touches the lowest red line, while price stays where it is, I will call this a bottom and regain confidence toward the upside.
The Uniswap price is between a triangle.
RSI has enough room to keep growing.
But OBV is NOW at a decision-point 😎
Drop me a nice comment if you'd like me to analyze any other cryptocurrency.
*no financial advice
do your own research before investing
this break in OBV could tell the story of what is to come in the short term. Still bullish on high time frames but on LTF there is reason for concern...
Since the year started, OBV had stayed above the horizontal purple arrow, but since mid-May, it has been downtrending, and on June 5th, it crossed below this level.
RSI divergence shows some strength, as we are making higher lows. But the order of importance is: price, volume, RSI.
The width of the Bollinger Band hasn't been this low YTD, which is signaling some...
