In the chart, you can see that after falling a little below $103.1 thousand, Bitcoin quickly recovered towards the resistance level of $105 thousand, but the OBV indicator ( On-Balance Volume ) remains negative around $100 thousand, signaling the lack of bullish volume support and increasing the risk of a pullback on the next attempt to hold above $105 thousand.
For a true breakout, the OBV needs to rise above -80 thousand while the price closes above US$ 105 thousand. Until then, sellers still dominate the volume, so it is wise to be cautious with long positions without a clear confirmation. #BTC
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In the chart, you can see that after falling a little below $103.1 thousand, Bitcoin quickly recovered towards the resistance level of $105 thousand, but the OBV indicator ( On-Balance Volume ) remains negative around $100 thousand, signaling the lack of bullish volume support and increasing the risk of a pullback on the next attempt to hold above $105 thousand.
For a true breakout, the OBV needs to rise above -80 thousand while the price closes above US$ 105 thousand. Until then, sellers still dominate the volume, so it is wise to be cautious with long positions without a clear confirmation. #BTC