Vision2077
Short

EPIC BTC BULL TRAP : Do you SHORT on such NVT Signal ?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Following the parabolic rise of BTC to 8300, we are in for a correction. The NVT Signal is showing Epic overbought proportions and the last rise was stopped by the NVT trendline . Next move is down to correct the overbought signal.

What is your level for this correction ?
0.618 drop from top to 5260USD
0.69 drop from top to 4900USD
...?
Comment: Thank you for your comments, I revised my charting to present correctly my question on the NVT Signal.

this did not pan out...
+1 Reply
Vision2077 kaiserjacob
@kaiserjacob, yes you are right, the NVT maintains epic highs and the oversold tension increased. Thank you for following past analysis. Does it question the relevance of the NVT Signal or is the demand for BTC generating new extremes that we have to adapt to ?
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i'm shorting 65k @ 8.3 to 7.1 partial, 6.4 partial, 6.1 partial, 5.6 TP and re-long at 5.6 or sub 5 depending on factors.
ppl who think this is going parabolic to 100k are retards. and it's so good to have so many of them in crypto :)
that said, i still have like 15k cash aside in case it does go to 9.4 from here so i can short from there even more.

long term i am bullish though, but the will be a correction or even a mini-bubble structure to wipe away the hamsters
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lol short :D
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Once again. Another disingenouis NVT post. A daily NVT on a 60 minute chart. Please stop forcing the daily view across other time frames. Cut the newbs some slack.
+1 Reply
Cash-Dash oaksacorn
@oaksacorn, it's also massively overbought on daily, so what?
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oaksacorn Cash-Dash
@Cash-Dash, correct. so what.... but not so on the 60 minute 200 lower nor the weekly nor the monthly.

Sorry vision2077, I don't mean to be a bitch. I should have just kept my mouth shut.
+1 Reply
Vision2077 oaksacorn
@oaksacorn, not at all, you are perfectly right. I do read the NVT signal on Daily, and that is how I have read we should make sens of it. I should have been more carefull while posting this question. I am fully open for critical remarks and am obviously in learning stage on manipulation TV interface.
Neither do I invite anyone to Short on crypto ; as in my own experience it requires a professional level of experience, and I burned some capital when I experienced getting squeezed in a short. I want to learn and share my observations.
Could you share your opinion on this overbought signal when you compare it to the december 2017 peak ?
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oaksacorn Vision2077
@Vision2077, Well said. Thank you. You are right. We should make sense of it. That is where I am struggling.

+2 Reply
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