NVT indicator has been showing bitcoin in an overbought position for while now, similar in length to that of the rally from 3k to 14k. I do believe bitcoin can indeed push upward to 45k before correcting, but in the coming weeks I think it is more than likely Bitcoin will experience a large healthy correction. In 2017 Bitcoin corrected 40% three times in less than a year. Thanks for checking my idea out :)
@Cryptomania2363, it aged perfectly, it dropped 25% right after I posted. Bought more in the dip. Never said it would be game over, just a correction like we saw in 2017 time and time again.
ich1baN
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Dude NVT is still flashing red .... there is no risk of btc falling here. You're using NVTS which isn't the same and doesn't produce the same signal.
resinial52095
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@ich1baN, looks like the nvt did its job to me. Indicators can be overextended.
ich1baN
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@resinial52095, you called for a 40% correction mate - it's bouncing up in a bullish 1H showing buyers have strength. It's only fallen 16% top to bottom.... not 40%
resinial52095
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@ich1baN, I never called any specific percent range. I mentioned that was the previous dips seen in 2017 as a reference. The attacking of logic is clear euphoria in the market.