So we've been following the NVT Signal with a bad call at $8000 when we expected the overbought NVT Signal trend line to be crossed.
This BTC pump is on wall street steroids, meaning also that it is subject to traders taking benefits based on indicators. But let us remember that all rationality and information available is priced in within 15 minutes nowadays,...
Euphoria is in the air. Still the NVT Signal announces imminent correction. Was rejected trying to raise again after crossing the trend line and still holds in mid air before correcting to 0.618 Fib or lower.
Thanks for your crowdsourced experience.
What is your reference Chart of the moment for NVT Signal sens making ?
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
We have been made attentive to an epic overbought NVT Signal indicator.
Depending on how you position the trend line, the NVT Signal is crossing the trend line, announcing the correction.
Do you have a rational analysis that supports a rebound on the NVT trend line and another bull leg for BTC ?
Epic BTC Overbought NVT Signal - more aggressive correction than 7th December 2017 to come ?
Thanks @Magic for pointing that signal to us.
How do you think the major Alts will behave if this correction starts now ?
XRP or ETH, if the explosive bull run of the Alts has begun, in what sequence should we invest in them ?
XRP as shown by @TradingShot started it’s bull run :
ETH just validated its proposed bull run signal starting at 198 ETHUSD...
Following the major Alt Pair ETHBTC I am looking for the catapulting of ETH above BTC.
ETHBTC seems to be bouncing back on the December 2017 low, which is also close to the ATH of March 2016.
(I could not show the 2016 ATH on the chart, I will improve)
I can’t see a capitulation from there as that would mean dropping to the next major support at 0.008 ETHBTC....