BitcoinUpdated Bitcoin On Balance Volume Macro Trends
This chart (BTCUSD) maps the all time price history index of Bitcoin to the U.S dollar in traditional candlestick form and visualized with the OBV (On Balance Volume) indicator on a logarithmic scale.
Currently, the price is about to enter a "Chop Zone" where the price, historically, becomes very unpredicatable. There is also a trend line in the chop zone which has shown strong support/resistance in the past.
Currently, the price is about to enter a "Chop Zone" where the price, historically, becomes very unpredicatable. There is also a trend line in the chop zone which has shown strong support/resistance in the past.
Note
WHITE LINES = Overall historic trend lines that act as support/resistanceGREEN ELIPSES = Beginnning or ending of a market cycle
YELLOW RECTANGLE ON OBV = "Chop Zone"
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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.