Bitcoin NVT Signal Flashing Red on Daily but Not on Weekly
Bitcoin's NVT signal, which has done a decent job at indicating that the Bitcoin price may fall, has flashed red on the daily chart but not yet on the weekly chart. The NVT flashed red in April 2019 as well and Bitcoin continued to climb to 14K afterward before tumbling, so it's not great at signalling WHEN the price may fall. Also, it seems to be more powerful on the weekly time frame, so I'm watching that carefully.
If the price were to fall back to the parabolic adoption trend line and support levels it may tumble down to the low 7K region before rebounding.
Past performance does not indicate what Bitcoin will do in the future. As I have shown through evidence in the chart, Market Insiders will mess with indicators like this to get into traders' heads so be careful about acting solely based on one indicator.
If this analysis helps you on your own journey please like, follow, and share. Thank you.
Peace, Love, & Crypto,
B166er
If the price were to fall back to the parabolic adoption trend line and support levels it may tumble down to the low 7K region before rebounding.
Past performance does not indicate what Bitcoin will do in the future. As I have shown through evidence in the chart, Market Insiders will mess with indicators like this to get into traders' heads so be careful about acting solely based on one indicator.
If this analysis helps you on your own journey please like, follow, and share. Thank you.
Peace, Love, & Crypto,
B166er
"You didn't come here to make a choice, you've already made it. You're here to try to understand why you made it."
―The Oracle
―The Oracle
