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Author Topic: On-Balance Volume over the long-term - bottomed again at $3.8?  (Read 683 times)
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April 10, 2012, 07:14:22 PM

With stocks falling hard today (1361 at time of posting), it reminded me of OBV inventor Joseph Granville's Jan 25 call that the rally up into 1400 was bound to fall because of the weak "momentum".

But what does OBV say about the price of bitcoin?

On the weekly chart, the OBV at $3.8 aligned with the ~$2.0 low, suggesting a bottom at seller climax ($4 is the new $2).

Switching to the daily chart..

The OBV lows are still aligned fairly well.

For even further granularity, the 12-hour chart..

Now it doesn't look so sure. But I think there's too much noise on the 12-hour.

The weekly chart is the one to look at (and the one most suggestive of a $3.8 bottom, conveniently enough).

How do the rest of you see the volume / money-flow indicators?

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April 10, 2012, 07:53:33 PM

i don't like the OBV because it just adds and subtracts volume -- too simple. this is probably why there is such a discrepancy among the time scales (noise is possible too, but because the formula is so simple it is especially susceptible thereto). i pay more attention to weighted indicators like accumulation/distribution and price-volume trend.

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