#BTC made a flip back below the zone and retesting too. Price moving back and forth over this zone and that good as consolidation is always good for the next rallies. Bias are always bullish since last week, so this week + next week will clear out the picture.

#BTC #ETF had a +$243.5M net inflows Yesterday.

What Is an On-Balance Volume (OBV)?

On-balance volume (OBV) is a method of forecasting the price changes in an asset by using the element of volume change. OBV is a compounding indicator that builds up the volume on up days and detracts volume on down days to gauge the purchasing and selling pressure.

According to the OBV principle, the 24-hour volume is deemed ‘up-volume’ when an asset's price closes higher than the previous close. On the other hand, the entire day's volume is deemed ‘down-volume’ when the asset's price closes lower than its previous close. OBV will only operate on markets with exchange volume, just as other volume-based indicators, like the Klinger oscillator, money flow index, and negative volume index.

Joseph Granville is the founder of on-balance volume (OBV) metric. According to him, volume defines how the financial markets work, and the price movements occur based majorly on volume. Granville believed that the price eventually sees a huge spike (upwards or downwards) if the market volume of an asset experiences a sharp increase.

A great way to look for resistance breaks is to consider the closing prices that are the main players in the OBV realm. However, the OBV indicator can become useless for a certain period due to sharp volume spikes, and in this case, traders should wait for the settling period (the time between the trades that an order is executed in the market) to be over.

A trend reversal in the bullish or bearish direction can be predicted through divergence signals. They are based on the idea that volume always comes before price (similar to OBV). Therefore, when OBV goes down or closes lower than its previous low, a bearish divergence is formed. A bullish divergence, on the other hand, is when OBV rises and closes on a higher closing price than its previous close.

An important point to note here is that OBV, alone, is not enough to predict the bearish and bullish trends of the market.

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Here's the Analysis of #ROSE :

#ROSE is been moving with the Support Zone of $0.114 - $0.121 and Resistance Zone of $0.161 - $0.166. Price broke the rising wedge pattern and might gonna move bearish too towards the support zone. Price Action is not clear as of now, its better to wait for the price to reach either end.

#BTC made its flip above the zone, as said bias are bullish. Now price on its verge to retest it as support zone and might have a bounce. Well, this is just a range and we already mentioned, this week gonna be not good and by the net week we can expect some strong momentum moves. The Good Thing is #BTC sustaining above the $70,000 mark.

#HOOK made its way from the accumulation point and broke the newly formed resistance. Call moved around 11.8% in profits and hope you took some profits with the rising move. Price is again retracing back, good for scale-in there.

During the recent price decline from the all-time high (ATH) to a low of $61.2k, approximately 2.0M BTC transitioned from 'in-profit' to 'in-loss' status, indicating a significant volume of coins transacted at a higher cost basis. As the market rebounded to $66.5k, about 1.0M coins returned to 'in-profit' status. Consequently:

- Approximately 1.0M BTC have a cost basis between $61.2K and $66.5K.
- Approximately 1.0M BTC have a cost basis between $66.5K and the ATH at $73.2K.

This represents one of the larger 'supply clusters' seen during pullbacks since the 2022 lows, suggesting increased on-chain coin volumes in recent months.

Here's the Analysis of #RSR :

#RSR is been trending higher high and break the major resistance zone of $0.0110 - $0.0114. and moving within the channel pattern and expected to move to the upside from here. Daily TF, indicates price can dip below the $0.090 level, so keep that into account before entering.

#BITCOIN DAILY TF UPDATE :

#BITCOIN continues to push to the upside and as expected due to bullish market structure. Price kinda stuck in between a range since last week and wicking both side. Well, we're already mentioned this week gonna be range or no to less move, as structure is bullish, so we can expected some push in the market to the upside or by the next week.

#FRONT did have much accumulation around itself, and now consolidating in a large range between those levels. Now, we've to look for the break above $1.40 for buys or you can take an aggressive one here with managed risks.

Most of the 2.0M BTC with a cost basis above $61.2k have changed hands recently, as owners sold them to lock in profits. SOPR metrics, which describe this behavior, have all reached relative highs, indicating a surge in profit-taking activity in spot markets, particularly with our Entity-Adjusted variant approaching levels seen during the 2021 bull market peak.

This suggests an increase in both the volume and extent of profit-taking activity in spot markets.

Trading With The Trend

#Trading with the trend, also known as trend following, is a objective in trading plan, that involves taking positions in markets in the same direction as the dominant trend. The idea behind this, is that trends in the market tend to persist and that following the trend can lead to higher profits than attempting to predict market reversals.

#Traders who follow this strategy typically use trend analysis #tools, such as moving averages or #trendlines, to identify the direction of the trend and to make decisions about when to enter and exit trades. This can involve taking long positions when the trend is #bullish and short positions when the trend is #bearish.

It is #important for traders to have a well-defined #risk management plan in place to mitigate these risks and to have a solid understanding of the #markets in which they are trading. Additionally, traders should be aware that trends can change and be prepared to adjust their #positions accordingly.

Here's the Analysis of #SKL :

#SKL is made its flip above the Resistance area of $0.111 - $0.113 and made its as support. This Zone is from the Weekly TF, which standing strong, so we can expect buy to continue. Price already making it retest, so take in accordingly and manage risk as well.