BTC May Tumble Below $100K as ‘Grand Daddy’ Volume Indicator Signals Weakness

Bitcoin Faces Pressure as OBV Signals Potential Dip Below $100K

Bitcoin (BTC) has held above $100,000 for four consecutive months, but a key volume indicator now points to underlying market weakness.

The On-Balance Volume (OBV)—often called the “grand daddy” of volume indicators—tracks cumulative trading activity, adding on up days and subtracting on down days. It can confirm trends and provide early warnings of potential breakouts or breakdowns.

BTC’s OBV has fallen below its recent range, reaching levels last seen on April 24, when BTC traded near $94,000. This suggests diminishing demand, even as prices remain above $100K.

Other indicators support a cautious outlook. The weekly MACD histogram is forming deeper bars below zero, highlighting growing downside momentum.

Key levels to watch:

• Support: $107,300, with a deeper drop toward $99,225 if broken.
• Resistance: The 50-day SMA, a critical hurdle for bulls.

While BTC remains stable above $100K, volume and momentum trends suggest a potential pullback, signaling traders to stay alert.