Hi!
I noticed few mentions of NVT so I tried it out. Accroding to theory it's something similar to RSI (my opinion). I checked on internet and values below 45 meaning oversold and values over 150 meaning overbought.
Currently it's around 200 on daily which means that this is extremly dangerous for longs. But this is bitcoin.
First off all I would be very happy if I knew this symbol about a year ago. Before that big dump from 6k to 3k I wrote two lines for triangle. And then I woke one morning to find out that my portfolio has halved. Then I became hodler :)
BTC has fall to bottom line and came back to top line as you can see on my picture.
So current situation is like all indicators are shouting "sell this because price will fall anytime".
My bear prognose it that we will see some bull trap to 9k then it shoudl retrace for about a third let's say 6k.
Second scenario (bull) is jump to 12k and attract media attention and more jumps to the moon :)
The time will tell!
BR R.
I noticed few mentions of NVT so I tried it out. Accroding to theory it's something similar to RSI (my opinion). I checked on internet and values below 45 meaning oversold and values over 150 meaning overbought.
Currently it's around 200 on daily which means that this is extremly dangerous for longs. But this is bitcoin.
First off all I would be very happy if I knew this symbol about a year ago. Before that big dump from 6k to 3k I wrote two lines for triangle. And then I woke one morning to find out that my portfolio has halved. Then I became hodler :)
BTC has fall to bottom line and came back to top line as you can see on my picture.
So current situation is like all indicators are shouting "sell this because price will fall anytime".
My bear prognose it that we will see some bull trap to 9k then it shoudl retrace for about a third let's say 6k.
Second scenario (bull) is jump to 12k and attract media attention and more jumps to the moon :)
The time will tell!
BR R.