2020 Q3: Bitcoin still at double Resistance with Bearish Volume

As I say time and time again, basic charting comes first the price action, then volume action, then other indicators. I have posted iterations on this chart several times over the last several months.

Price Action

• Setting its second lower low since the ATH of December 2017
  
• SHas flipped rising support to rising resistance with the blue trendline and hammer
  
• breached the 200W SMA afterit was support in 2016 and 2018
  
• Almost touched the 300W SMA
  

Volume Action

• Bearish stack: OBV below the 10 EMA whichis below the 20 EMA
  
• OBV therefore at resistance and potentially signaling selling pressure about to increase.
  

Other Indicators
VSTOP indicates a bearish price action pattern. BLX is an weighted index and so not every bitcoin chart agrees with this chart, but it has the most data and so I use it. The VSTOP is a real simple tool for determining trend and areas of support, resistance, and therefor areas of potential reversals.

When I dig to a lower timeframe, in this case the 12H, I see a lot more cause to be bearish in the short term
The OBV is very divergent to price action.
OBV appears to be about to reverse trend and start setting a valley
On this chart is the VSTOP Multiple Time Frame with a multiplier x3 I am using it to help me find a pinch in the price action. There appears to be a very solid floor at the blue trend line. If that floor has a trap door due to the bearish divergence in the OBV expect the fib targets or the longer term weekly SMA targets to come into play.
The pointing red fingers show the fractals I expect to replay. I think we will potentially see several red months. For my crypto trade I am currently short in ETHUSD as I expect it to over-perform btcusd to the downside.