BTC declining OBV and rising wedge and the expected BVOL spike
Updated
Recent ATH has been impressive, taken many by surprise. Part of the surprise in the rise since July 30K bottom has been due to the declining volume, volume decline and price pushes further up. Notable that the on-balance volume has produced a significant divergence since April's ATH.
Bitcoin volatility has been on the decline and in a narrowing range which usually result in a volatility spike and an explosive move.
Considering that price is in a rising wedge with bearishly divergent daily OBV, I am expecting a big dump toward the 40k support.
Bitcoin volatility has been on the decline and in a narrowing range which usually result in a volatility spike and an explosive move.
Considering that price is in a rising wedge with bearishly divergent daily OBV, I am expecting a big dump toward the 40k support.
Note
BTC fell out of the wedge with a failed retest
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.