BTC On Balance Volume = Bearish
Updated
Looking at the on balance volume (OBV) we can see where the price direction might be going.
This is a divergence on the smaller time frame charts. This is the 1 hrs chart and it's quite visible on the 30 min as well.
I suspect we move down a bit more.
I'm watching for the OBV to break the support and head down lower bring the price with it. If this is the case I would be looking for BTC to get to $12498.
I have red horizontals at further support levels.
I have also laid red lines for the OBV support and resistance levels.
If BTC price can close the day above $13358, this would be a good thing for bulls.
Have fun trading!
This is not financial advice.
This is a divergence on the smaller time frame charts. This is the 1 hrs chart and it's quite visible on the 30 min as well.
I suspect we move down a bit more.
I'm watching for the OBV to break the support and head down lower bring the price with it. If this is the case I would be looking for BTC to get to $12498.
I have red horizontals at further support levels.
I have also laid red lines for the OBV support and resistance levels.
If BTC price can close the day above $13358, this would be a good thing for bulls.
Have fun trading!
This is not financial advice.
Note
This is looking really nice for a continuation upward!
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