Hi guys, hope you all had a great weekend. Here is another observation on the money flow combined with momentum in BTCUSD pair. Being new to OBV i am yet to gain a deeper understanding of this indicator. What I have learned so far is that adding a moving average to OBV may give a clearer picture on inflow of money into the market. In this study a 20 period SMA has been added to OBV on the weekly chart. While the moving average serves as a support the price action stays bullish. During pullbacks OBV tends to be below the MA which is ok as long as the angle of the MA is up or neutral.
All that combined with the fact that MACD had a bearish cross several weeks ago and we had three weekly candles below 21EMA suggests that this retrace may take a lot longer than we may have hoped for.
Please share your thoughts on this one.
Have a great day!
All that combined with the fact that MACD had a bearish cross several weeks ago and we had three weekly candles below 21EMA suggests that this retrace may take a lot longer than we may have hoped for.
Please share your thoughts on this one.
Have a great day!
