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RE: BTC/USD :HIDDEN BULLISH DIVERGENCE - OBV
Thank you for this enlightening post.
What is OBV ?? And how does it show that there is underlying strength for supporting the baseline?
Thank you for this enlightening post.
What is OBV ?? And how does it show that there is underlying strength for supporting the baseline?
Hey, OBV is on-balance volume indicator / oscillator. It's a technical indicator that draws a correlation between an asset's volume and it's price and is very helpful in understanding it's momentum. Basically what you look out for are divergences between the oscillator and the price action when the price is at a support or resistance level. The ichimoku tells us that the kijun sen (the red line) is a point of support/resistance and thus it's a good point to use the OBV. Check out this link, its got a cheat sheet to help you catch the divergence and parse it's meaning : https://www.babypips.com/learn/forex/divergence-cheat-sheet
I hope this helps. We'll know tomorrow if my OBV reading is right! fingers crossed!
Well, so far there is a great support @ 14k for BTC it seems because it stopped dropping and is now coming back up.... Nows prob a good time to buy
I agree. I see support at 13491. See my chart below. And 16th of Jan (+/- 1 day) is going to be a day of change, so to speak, so pay attention close to that day.