BitcoinLong
BTC & OBV
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 confirm trends and identify potential trend reversals.
I've noticed a range happening on OBV
Generally, if OBV has been at the top, there was reason to look for a sell.
Vice versa if OBV is at bottom range, a buy could be caught.
25K level has been important for BTC as a resistance and now as a possible support.
I'm looking for a wick (to grab liquidity) around 25K level and then a possible move up.
However if we break and stay under 25K, it opens up gates for a H&S pattern, which could take us below 20K.
September is historically a bearish month for cryptos, so be careful out there!
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 confirm trends and identify potential trend reversals.
I've noticed a range happening on OBV
Generally, if OBV has been at the top, there was reason to look for a sell.
Vice versa if OBV is at bottom range, a buy could be caught.
25K level has been important for BTC as a resistance and now as a possible support.
I'm looking for a wick (to grab liquidity) around 25K level and then a possible move up.
However if we break and stay under 25K, it opens up gates for a H&S pattern, which could take us below 20K.
September is historically a bearish month for cryptos, so be careful out there!
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