gliderfund
Short

Bitcoin: NVT anticipating a down move

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
The NVT indicator is anticipating a down move in BTC .

We can observe that the recent drop to 3400 has triggered the break of the NVT Trendline that we were monitoring for the last days.
That signal is anticipating a near retest of BTC bottoms around 3100 area.

If the test of the lows would fail, then we'd focus on the harmonic targets that sit below 3k area. I've drawn here a 1.27 Butterfly , but there are lower targets that could unfold.

For the next days, we will track the crash of the NVT indicator. The closer we are able to get to 45 area, the bigger the chance that the bottom is in.

Currently, NVT is about 87. We want to get a close confirmation below the trendline.
I am committed to developing indicators that meet the requirements of professional traders. Hope you find it useful.

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BTC: 3MJZa4KUPPrEWrEmWxJyCtpEAAtveUhrW8

Comments

Thanks for making the NVT indicator available. Any plans to make one for MVRV?
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gliderfund Pladizow
@Pladizow, Yes, I looked into that a while ago and doesn't look like a thing we could enjoy at Tradingview in the near term
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Pladizow gliderfund
@gliderfund, I'm going to try and have it scripted, any advice?
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gliderfund Pladizow
@Pladizow, IMO the main obstacle lies on quantifying within Tradingview the 'Realized Value' and the 'last UTXO moves'
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Pladizow gliderfund
@gliderfund, Thanks!
Reply
gliderfund Pladizow
@Pladizow, Yep, would be great making some progress to bring this wonderful indicator into Tradingview. Keep me posted pls :)
Reply
Pladizow gliderfund
@gliderfund, Will do!
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lol
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