I've drawn a bright green horizontal line on the OBV indicator. Notice how the OBV has been on a downward trend since 11k. Now it's beginning to flatten out, a sure sign that the downturn is ending.
When the price hit 6k, the OBV curved sharply down to a point and then curved upward sharply toward 11k. Clearly these sharp movements in OBV are unsustainable. The OBV then begin to flatten and then a downturn ensued for several months. This time the OBV is slowly but surely flattening out - which is a more healthy and sustainable turnaround, and a good sign of the healthy start to a long-term bull run.
All you budding TAs take note: ignore the MA, MACD and RSI for determining long-term trends, the OBV is the only indicator that unambiguously shows the overall long-term trend.
Watch the bright green line for signs of the turnaround.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.