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On Balance Volume (OBV)

Bitcoin (BTC) • Let's do some On Balance Volume analysis Bitcoin want to test higher but volumes overall still looking very weak to be considered bullish. Swaps keep trading back and forward but futures still remain relatively flat with normalised premiums (that is good). Funding rates currently favouring shorts as price mark up. Overall feel pretty neutral leaning bearish (even if we mark up to test 45k range). Daily and Weekly timeframes look ugly. I want to see volumes and some other strong signals coming out of futures to be more convinced that we found a bottom. At the moment I am not convinced. In this video I focus on the analysis of the On Balance Volume (OBV) indicator.
COINBASE:BTCUSD
by D7R
5
BTCUSDT 4H | Bitcoin market overview: OBV FallingHello, dear subscribers! In the previous and other reviews we have repeatedly analyzed the meaning of the OBV indicator. We have marked the important support for the buyers - 2.15M. In the days following the last bitcoin market review, the sellers managed to break down important support for the buyers. The bitcoin price corrected from $59,500 to $55,500 in this move. At the moment, we are seeing the bitcoin price recovering from the fall. One of the expected scenarios of bitcoin price movement is a return to the 2.15M level of the OBV indicator after which a bounce down and a deeper fall of bitcoin price. On the chart, the projected movement is marked with arrows. The next bearish targets after the $55,000 are $52,000 and the round $50,000. It is also possible that the bulls will be able to win back the fall and raise the OBV above 2.15M. Other indicators MACD and RSI are in the recovery zone, RSI is above 50, MACD shows growth. In the next days or hours we may see a decoupling in the bitcoin market. All buyers should be careful, probably now the bitcoin price is at an attractive enough level to take profits. Subscribe to the channel and stay tuned!
Short
by CatalystsFinance
BTCUSDT 4H | Bitcoin market overview: Bullish signHello, dear subscribers! In previous reviews we marked the $58,000 level as important for the bulls. Fixing above it will give the bulls a chance to continue the full-fledged uptrend. In the past days, we have seen an active growth of bitcoin from the support level 1 - $51,500 - $52,000. Today, bitcoin price got close to 58,000 and broke through the downward channel, in which it was after the historical high. The MACD and RSI indices turned up and are in the green zone. The OBV indicator touched the support at 2.15M, which is important for buyers and also turned up. All this indicates a full-fledged attack of the bulls, who are satisfied with the current correction and are ready to move the price up to new highs. In the current situation there might be a quick break-up of the level of $58,000 or a fake break-up with a long price chattering around $58,000 and a fight between the bulls and the bears for determining the direction of the trend. Subscribe to the channel and stay tuned!
Long
by CatalystsFinance
BTCUSDT 4H | Bitcoin market overview: CorrectionHello, dear subscribers! In the previous review, we looked at the downward exit from the triangle as a priority movement option for bitcoin price. In the following days, bitcoin price corrected down to the designated support zone. The bitcoin price entered the support zone of $51,000 - $52,000, after which the bulls beat off the bears' attack. The current bitcoin price resistance level is in the $55,500 zone. Support levels remain the same. The RSI and MACD indicators are in the red zone, but at the moment show recovery after a strong fall. The OBV indicator touched 2.15M - this level is the main support for the buyers. A fixation below it would indicate the formation of a global downtrend. At the moment, bitcoin price is in the wide zone of $51,000 - $55,500. In the coming days, buyers or sellers will try to overcome the boundaries and show their strength, in the current situation, the initiative remains with the bears. Subscribe to the channel and stay tuned!
Short
by CatalystsFinance
BTCUSDT 4H | Bitcoin market overview: BearishHello, dear subscribers! In our previous review, we looked at the formation of the "triangle" pattern on the bitcoin price chart. Bitcoin price came out of the "triangle" downwards, this confirms selling as the main scenario. The price minimum after exiting the "triangle" at the level of - $35,000, was - $28,850. After that, bitcoin price corrected upwards and entered the zone of $31,000 - $34,300 between support and resistance level. At the moment, bitcoin price is within this range. According to the MACD and RSI indicators, we see a corrective upward movement. An interesting picture is observed on the OBV indicator - the indicator value has fallen under the support of 1.795M, which indicates a bear market. A rebound from resistance is likely to lead to another bearish attack in the bitcoin market. Subscribe to the channel and stay tuned!
Short
by CatalystsFinance
BTCUSDT 4H | Bitcoin market overview: Triangle battleHello, dear subscribers! In the previous review, we looked at the boundaries of bitcoin price movement zones in the short term. In the following days, the bears managed to lower the bitcoin price to the resistance zone 1. Buyers managed to beat off the bears' attack twice and push the price up. At the moment, bitcoin price is at the border of the resistance level - $36,800, which was previously a support. The bitcoin's price movement forms a "triangle" pattern, an exit from which up or down will cause the price movement equal to the height of the triangle, which is about $10,000. The MACD and RSI indicators show the dominance of buyers in the market, in the current 4-hour candle they both went into the green zone. If the bears did not manage to close the current candle in the red zone, a buy signal will be formed. The OBV is showing a decline in the long positions of the last few days, which tells you that the sellers are increasing their positions. This may be a negative factor for further bitcoin price growth. Subscribe to the channel and stay tuned!
by CatalystsFinance
2
BTCUSDT 4H | Bitcoin market overview: Bullish signHello, dear subscribers! In our previous review, we looked at the Triangle pattern and bitcoin's downward exit from it. The exit worked correctly, but the bears could not lower the price beyond the first support level of $17,600. Since December 1, bitcoin price has been inside the $17,600 - $19,400 zone. After the last bounce of the bitcoin price from the support level of $17,600 the RSI and MACD indicators came to the green zone and signal a local bullish trend. It is important for buyers to consolidate above $19,400 level - it will be a good sign for continuation of the global uptrend. Also on the bitcoin market, formation of a pattern - fakeout, a brief exit above the resistance level - $19,400 and a reversal downward is possible. For now, bitcoin market is on the side of buyers. OBV indicator shows that the current bitcoin growth is not supported by a set of long positions. The indicator shows declining growth peaks in buying volumes, indicating that the bulls are weakening. Subscribe to the channel and stay tuned!
Long
by CatalystsFinance
Short NZDUSD Daily - Ot ForexFX:NZDUSD has recently rallied higher even though it is in a strong downtrend ( weekly lower lows ) . As indicated on the chart the weekly resistance and support levels. Price has reached and broken the first level on higher volume , but it has made a strong return to the downside when it reached the 0.5 Rib Retracement Line. Stop Loss can be set just above the First Resistance level with entries occurring just below and take profit targets should be set at the daily consolidation rectangle.
Short
by OT_Forex
USDJPY 108.30 RESISTANCEThe US dollar has continued its breakout rally against the Japanese yen currency as risk-on trading sentiment in broader financial market improves. The USDJPY pair will turn technically bullish over the medium-term if price moves above the 108.30 resistance level. Traders should note that a breakout above the 108.30 resistance level could cause the USDJPY pair to rally towards the 111.00 area. The USDJPY pair is only bearish while trading below the 107.30 level, key support is found at the 106.90 and 106.03 levels. The USDJPY pair is only bullish while trading above the 106.90 level, key resistance is found at the 108.30 and 109.00 levels. Do your own analysis ... Dont Forget Moving StopLoss At Breakeven Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. You must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
by tyleralee