Looking at OBV collated from all major BTC exchanges and fiat pairs (collected from 1 min timeframes), we can see massive divergence between price and On Balance Volume.
There is alot more selling volume than buying volume, which makes it look like this is a dangerous rally to buy into. I expect to see a wick up to destroy the shorts and trigger stops, then a crash back down to continue down to the massive liquidity store around the $20k mark.
I am no expert so don't trade on my advice, but there is clearly a divergence between volume and price here.
The old adage goes "Never Short Bitcoin".
But I am wary of this rally as another adage goes "Price goes where Volume shows".
There is alot more selling volume than buying volume, which makes it look like this is a dangerous rally to buy into. I expect to see a wick up to destroy the shorts and trigger stops, then a crash back down to continue down to the massive liquidity store around the $20k mark.
I am no expert so don't trade on my advice, but there is clearly a divergence between volume and price here.
The old adage goes "Never Short Bitcoin".
But I am wary of this rally as another adage goes "Price goes where Volume shows".