BTC (Vortex Indicator) + SOPR 4W Great Indicator
When using the Vi with the The Spent Output Profit Ratio (SOPR) dividing the realized value (in USD) divided by the value at creation (USD) of a spent output, you get a great trend reading once Bitcoin starts diverging into new trends.
Vi alone is not the best to find market tops but when used with the SOPR we can see once the SOPR passes the 50 mark it confirms the bull market is in early stages
(where we have been for months)
When the SOPR reaches velocities near 75-80 and the Vi gap starts to revert would make sense to take defensive positions / positions from early positions.
Found this recently and will definitely be used to indicate the next peak.
The work has to be done in early stages of the market like aways regardless if its stocks & or Bitcoin, once multiple strong indicators start getting triggered you go defensive, most plan for this during the peak period and fail to accept end.
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.