Apologies for earlier chart, did not update due to technical error.
It appears the price is consolidating in a tight triangle/channel. Should the price break this to either side, I will be placing a position to take advantage of the same. There is a pseudotriangle on OBV as well with two small breaks to the downside with another coming up soon. While it appears...
It appears the bull run has been further delayed so I will be posting a further update to the short. At this time, I will not change my buy in point from the primary bear OBV trend.
Current target still within 600 - 610 area. If that fails, next support is at 525 area as far as linear price support goes. This is based off very old data from the bubble in late...
Pay attention to the OBV trend. I have used this to dictate when the trend breaks and OBV typically leads price by up to an hour. Once you see divergence from my drawn trends, you should be a breakout. Feel free to look backwards on my chart to see my buys and sells based on OBV divergence.
Right now, short term bear. Possibly to 600-610 range.
Extra credit goes to Zoinky for providing both the initial design, stick enhancement and entertainment while producing the chart.
Seriously though, have a look at the Fibbonacci rising channel. We will trace then bull up to 700. 1000 is not out of reach this month.
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.
It appears we have a bearish pennant formed which is breaking down. Bear market appears to be continuing after consolidating around the 500 dollar psychological barrier.
Sell volume appears higher than buy volume on the candles.