Could Bitcoin (BTC) Crash Below $100K? Volume Indicator Signals Weakness
The On-Balance Volume (OBV) indicator has broken below its support, signaling underlying weakness that could push Bitcoin below $100,000.Summary
Bitcoin has maintained a price above $100,000 for four months, suggesting a potential base for an upward move. However, the On-Balance Volume (OBV) indicator, a key volume index used to confirm price trends, is signaling underlying weakness. BTC's OBV has broken below its own range, dropping to levels last seen in April when the price was near $94,000, suggesting demand is faltering and a sell-off below $100,000 is possible. This bearish outlook is supported by other momentum indicators like the MACD histogram showing strengthening downside momentum on the weekly chart. Technically, Bitcoin is trading below its 50-day simple moving average (SMA) and is near critical support at $107,300; a break below this level would shift focus to the June low around $99,225.
(Source：CoinDesk)