Neo is one of many others displaying this pattern. Lower price while the OBV indicator continues to ramp up and break ATHs. This shows accumulation. A pattern in the OBV indicator can forecast what will happen with the price.
Bullish funding on BAND. To not profit on this, theoretically Band would have to remain in the buy zone and never break above it again. I will be accumulating now at $4 support and also below in that entire buy zone region if it gets down there.
50 RSI is a very important level. Anything above 50 RSI is bullish. Anything below 50 RSI is bearish. A crossover from one side to the other marks a change in direction of the trend. Since we broke down from the top of the bearish ascending wedge pattern, that is the moment we entered sub 50 RSI levels, and 50 RSI is the resistance of the downtrend, or the support...
It seems we're getting to the end of a weak bounce, a lot of breakout POTENTIAL like there has been over the last few weeks, but the breakouts lose traction, and people stop buying above certain amounts. I am staying technically neutral, because I know there is so much potential for an up move to return to recent levels, HOWEVER, the market is seemingly weak and...
We broke above triangle pattern, now we are in pullback. Could we break this short term resistance and make another move up? Anything below 2k means we are more likely to head down from there. OBV indicator is forming bullish divergences.
There is still room to go up if purple support trend line holds. However, if we go below 55k, then we could be talking about this ascending wedge being validated and breaking downwards; and looking to buy at Fibonacci support levels for quick bounces if that happens.
A lot of breakouts this week, expecting big moves up on the market as a whole. This is just one chart plucked from many options.. Nice triangle formed that we broke out of, then formed a nice bull flag that we are breaking up out of..