Bitcoin OBV Suggests Something Potentially UNDESIRABLE For Bulls

14 มี.ค. 2024

Something has to give. Either Bitcoin breaks out of that potential symmetrical triangle and creates a negative divergence on a higher high, or that pattern will fail and bitcoin is going to take a wild dive sooner rather than later.
In my humble opinion.............

14 มี.ค. 2024

บันทึก

I'd like you to pull up a monthly chart of bitcoin. Simply add on the OBV indicator. You'll need to have the complete history of bitcoin's price since inception.

Look back to all the peaks. You can use my weekly chart if you like for the highs that I'd like you to see and match with the highs of the OBV indicator. Notice that at those specific highs the OBV made higher highs as well.

Now look at the most recent all time highs and look at the OBV indicator. What do you see? ah ha! Houston we have a problem.
In my humble opinion............

14 มี.ค. 2024

การซื้อขายยังคงดำเนินอยู่

Look into what is called a 2B Top signal.
In my humble opinion.....

16 มี.ค. 2024

การซื้อขายยังคงดำเนินอยู่

Welcome to this marvelous Saturn day. I would like to bring a few things to your attention.
1- Vanguard
Quote:
"In Vanguard’s view, crypto is more of a speculation than an investment. This is at the root of our decision to not offer crypto products, whether our own or others. With equities, you own a share of a company that produces goods or services, and many also pay dividends. With bonds, you get a stream of interest payments. Commodities are real assets that meet consumption needs, have inflation-hedging properties, and can play a role in certain portfolios. While crypto has been classified as a commodity, it’s an immature asset class that has little history, no inherent economic value, no cash flow, and can create havoc within a portfolio."

May I ask what kind of good or service MicroStrategy produces? NONE! Therefore I find it quite interesting while on the one side Vanguard is saying, hey let's be prudent for this and that reason, while holding MSTR which is heavily focused on SPECULATING on Bitcoin!!! In my humble opinion..........

2- The news release titled:
Senators pressure SEC’s Gensler not to approve any more crypto ETFs
I would like to bring you attention to this part in particular:
Quote:
"We write to urge the Securities and Exchange Commission(SEC) to take steps to protect investors following recent approval of the listing and trading of certain bitcoin exchange-traded products(ETPs)

Because bitcoin ETPs are not subject to the substantive and structural protections under the Investment Company Act of 1940, they are not subject to restrictions on harmful practices that apply to most investment funds marketed to retail investors, including mutual funds and ETFs. These include a fiduciary duty, limits on leverage, custody requirements, corporate governance requirements, prohibitions on conflicted practices, restrictions on fees and expenses chargeable to investors, and examination by the SEC. The use of terms such as "Fund" or "ETF" imply that the full protections of the Investment Company Act would apply, but unfortunately, they do not."
End quote.

3- While Most were extremely "Bullish", a crack appeared in this last week. Inflows in bitcoin long ETFs subsided. That CRACK that so many like to say that I'm smoking has appeared and confirmed itself by printing this occurrence on the chart, in my opinion.
Whether this time will be different or not, time shall be the revealer. As most have seen in the prior week, WHALES have come to liquidate portions of their holdings into the ETF orchestrated demand.

I planted a seed/idea. It was first proposed to potential be a major bearish flat and suggested that it may potentially turn into a major Expanded Flat. That idea began to draw in a tremendous amount of negative responses which were mostly abusive. This now will be described using an analogy to growing a plant.

The idea/seed. Then came the nutrients disguised as manure. These "negative" nutrients gave an opportune environment for the seed to grow. All I did was attend to it. This so called negativity/energy/manure in of itself began to transform and microbes were feeding the roots of the idea that began to take form.

Those newly sprouted seedlings began to turn into flowers that attract bees. Once the bees began to pollinate, the idea took on a life of its own and I could no longer control it. The thread became out of control, however, there appeared to be an energy that I recognized. It was time for me to step back and let it transform and manifest.

I myself could not have achieved such a feat on my own for I-AM no-thing.
We had some energy manifest in the form of time, volume, patterns, sentiment, etc.

We had a commenter that appeared with a moniker Sea-Gull. This is a bird and has a spiritual meaning. The commenter appeared to mention a rising wedge pattern had appeared to take form from his perspective. I noticed it and had told him at the time that I had it labeled as a potential ending diagonal but I had mentioned this to nobody in prior conversations.

What does a Seagull represent spiritually? Pay attention to what has happened. It may be that Spirit is trying to reach out to you, to let you know that their are matters toward which you should direct your attention. Proof you ask? Since I recognized the energy I allowed it to express itself. I never allowed anyone to post their idea on my threads, NEVER! But I allowed the Seagull to elaborate and post his. As they say, a picture is worth a thousand words.

We also noticed another poster that came in to mention volume on a monthly bases upon which I simply added the OBV to price as a recognition to that energy.
Then we had another pop in and said NOW! At that time I had written on another thread which was my final comment until today that stated: Look up the 2B Top Signal! That sealed it. What occurred shortly afterwards? It confirmed. I tend to use intraday time frames to catch it quicker and then let it play out to see if it'll confirm on the daily etc.

Therefore, last but certainly not least. I would like to extend my gratitude to all of you for your contribution in shaping this energy into taking form that has manifested an idea that has allowed me to experience it in reality. What occurred? A CRACK manifested! And the commencement of that crack was pointed out to commence at approx 6 am EST on the hourly time frame.

Have you not understood what Noble Ones represents? It represents YOU THE PEOPLE! You my kindred spirits are noble ones, in my humble opinion.

With that I leave you while wishing you all nothing less than the very best until the next time our paths may cross.

In my humble opinion................