#Bitcoin Made 3 Failed Attempts to Break Above Strong Resistance
Strong Psychological Support Levels
Bitcoin made 3 failed attempts to break above Strong Resistance Descending Trend Line (Orange)+(Descending Dashed Line)
If in the coming days price fail to stay above the Ghost Level Box price may have a free fall to 30k (Green Box #3)
The good thing about the 30K or even 28K is that these levels are a strong psychological support level for large corporation and retail investors to buy, expecting a pretty decent price rebound to the uptrend
Nevertheless, according with the NVT indicator shows that above 150 level is considered to prepare to go short
However, NVT can reach up to 300 level as happened on October 21
NVT conclusion:
if currently level is at 129.81 price is very close to 150 even though price is falling, Please DYOR To make MYOD
Definition of NVT Indicator
In digital asset industry, the closest indicator to P/E is NVT, or network value to transaction value.
NVT is calculated by dividing the Network Value (market cap) by daily USD volume transmitted through the blockchain.
Furthermore, to NVT, MVRV and its derivative MVRV-Z are indicators of choice for the SMART MONEY.
Please check my previous #Bitcoin 1/3 TA and #Bitcoin strong resistance levels BE AWARE!! that I posted on January 11 to confirm results
NFA
PLEASE, DYOR/MYOD!!
Hope to See your Likes 👍 to Support My Work
To Follow All My Ideas, Go to My Profile and Select the Follow Green button 😁
Please Re-Examine Before Make Your Last Decisions
Bitcoin made 3 failed attempts to break above Strong Resistance Descending Trend Line (Orange)+(Descending Dashed Line)
If in the coming days price fail to stay above the Ghost Level Box price may have a free fall to 30k (Green Box #3)
The good thing about the 30K or even 28K is that these levels are a strong psychological support level for large corporation and retail investors to buy, expecting a pretty decent price rebound to the uptrend
Nevertheless, according with the NVT indicator shows that above 150 level is considered to prepare to go short
However, NVT can reach up to 300 level as happened on October 21
NVT conclusion:
if currently level is at 129.81 price is very close to 150 even though price is falling, Please DYOR To make MYOD
Definition of NVT Indicator
In digital asset industry, the closest indicator to P/E is NVT, or network value to transaction value.
NVT is calculated by dividing the Network Value (market cap) by daily USD volume transmitted through the blockchain.
Furthermore, to NVT, MVRV and its derivative MVRV-Z are indicators of choice for the SMART MONEY.
Please check my previous #Bitcoin 1/3 TA and #Bitcoin strong resistance levels BE AWARE!! that I posted on January 11 to confirm results
NFA
PLEASE, DYOR/MYOD!!
Hope to See your Likes 👍 to Support My Work
To Follow All My Ideas, Go to My Profile and Select the Follow Green button 😁
Please Re-Examine Before Make Your Last Decisions