Due to several days of strong positive volume the OBV has broken its downtrend and moves to the upside, indicating that there are accumulators at the current level. The prior days candlesticks are testimony to this as they both have elongated high wicks. The weak ADX shows us that the current downtrend is not that serious and thus it is possible to trade against...
Unlike the previous bullish rally, this one might stay undercover due to the low incline of MFI. Ultimately we're still going down but for the time being, this is as good a place to pick up some BTC as any. OBV is showing a major bullish trend but until we pop up out of the MFI resistance line, I don't think we'll be visiting the moon anytime soon. Considering...
Suspect bearish resolution to triangle forming, low target of 315-320 USD. Stop loss 290 USD. Unfortunately Microsoft news did not 'kill the bear', likely due to instant liquidation to fiat on Microsoft's part (unsubstantiated). As we can see on OBV, the support provided by this level is turning to a resistance zone. Bearish sell pressure is increasing. Next...
OBV 4h indicates bounce. But Oscillators want more bear. We may break a 1 month old channel here in which case, we have a fair chance of breaking 400. High support noted in this area however. Sentiment may overpower TA.
I like the OBV as its a plain vanilla indicator and divergences can lead to some good high probability set-ups ..
The only indicators you need are the following: On Balance Volume or the OBV – The OBV indicator is based on the idea that both the volume and the price activity are equally important. In this regard, the OBV combines both price and volume to show you the total amount of money going in and out of the Litecoin. The main idea behind the On Balance Volume indicator...
Hey guys, to begin this analysis I'll direct you to the OBV at the bottom of my chart: OBV: What is it? Cumulative index of plus or minus volume days based on change of closing prices. It is calculated as a cumulative total: (x) If price close is higher than the previous day, add the day’s volume. (x) If price close is lower than the previous day, deduct the...
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...
What is an OBV? The On-Balance Volume (OBV) indicator is a tool used in trading to gauge the strength of a price trend. It does this by tracking the cumulative volume of an asset over time. When the OBV rises, it indicates buying pressure, suggesting an uptrend. Conversely, a falling OBV suggests selling pressure and a potential downtrend. Traders use it to...
TL:DR: The Bear market inflection is NEAR, it has not occurred. More time to accumulate (or get wrecked using margin). QRD: Bottoming structure not yet clear, OBV 10 has not bullishly crossed the 20 below 100 yet. Price still below blue resistance line. NVT shows bear market inflection, as does the Hash Ribbon. Inflection score is 2/6. Introduction There...
BTC has invalidated its very long Descending Triangle indicated by the 2 large black dashed lines. BTC is still in its Longterm Upwards Pitchfork Pattern on this 1w timeframe, note that BTC is back above the Pitchfork Median Line (The Thin Dashed Line) on this 1w timeframe. BTC is still safely above its 50EMA on this 1w timeframe. BTC is still above its Least...
My personal reflections and trading diary: The OBV indicator I find quite reliable with BTC in gauging breakouts and maintaining confidence lines to support price movements, up and down Recently, BTC 4hr OBV on Binance has maintained the triangle it established with the may/june drop, despite the recent FUD created through peoples bank of China reporting. The...
Hi All, Thanks for checking out my analysis. In this analysis, we are focusing solely on OBV levels and the descending expanding wedge on the daily BTCUSD chart. I believe that this pattern we saw in June 2016 will play out once again. Pay close attention to the red and blue OBV levels. You will see in July 2016, the OBV rejected the blue level (see red gavel...
Hello everyone. I'm back at the writing table, looking at things from a distance as I like to do. The main chart does not look like what I wanted. To make it look as I had planned, please minimize the indicator (pull the middle line towards the bottom) Today we'll be looking at how price has reacted to previous ATH Monthly candle closes. Before that, one word...
While it is well and good to create charts, monitor indicators and attempt to discern the direction of the Bitcoin price, it is easy to get buried in complexity and blinded by bias. That is why the On Balance Volume (OBV) is so valuable. You can read more about it by following the link below: www.investopedia.com Essentially OBV allows you to eliminate a lot of...
An analysis of how the 200 DSMA and On Balance Volume can help us frame potential set ups for a Nvidia and what it might do next. Bullish Case and Invalidation Level Price is above the 200 DSMA at present and because we are breaking above a recent high on the OBV, this could signal higher highs for price similar to June 2020. Invalidation Level: This...
Back before I learned TA, I didn't see the signs in Dec-Jan that clearly showed that BTC was heading for a crash. The 4H OBV in particular is a very good indicator of the market because it's so easy to read. Unlike other indicators like RSI, MACD, Volume and EMA that don't conclusively show overall market direction, the OBV has been a superior predictor...
NASDAQ Weekly Price Chart After forming a double bottom in late 2022 the NASDAQ bounced and has melted up from its lows approximately 48% confirming that it was more than just a bear market rally. Most recently the NASDAQ has run into resistance (Light Red Box) and has descended roughly 3% past a minor trend line on the daily chart (not shown). Shorter term...