MagnusTradingGroup

OBV Triangle and it's price equivalent

BITSTAMP:BTCUSD   Bitcoin
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 : ]

-- PS: Here is the pine script code for the OBV indicator with moving averages: pastebin.com/Qs0rW4fX
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.