Bitcoin: NVT in Bullish Divergence
This is the weekly read of the NVT indicator.
Bitcoin has been following a descending wedge pattern since mid-January '19.
And in contrast, NVT has been oscillating in a tight range between 86-91.
I see an apparent disconnection between the market price and the underlying fundamentals.
And we can feel that disconnection when NVT is drawing a potential double bullish divergence.
If this is signaling a near term bull, we want to see NVT taking over 91 and 96 levels to confirm the fact.
Bitcoin has been following a descending wedge pattern since mid-January '19.
And in contrast, NVT has been oscillating in a tight range between 86-91.
I see an apparent disconnection between the market price and the underlying fundamentals.
And we can feel that disconnection when NVT is drawing a potential double bullish divergence.
If this is signaling a near term bull, we want to see NVT taking over 91 and 96 levels to confirm the fact.
I develop indicators meant to be useful, profitable and good looking.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.