TA BTCUSD btc has failed to complete the IHAS shown some weakness has formed a symetrical triangle, which indicate the continuation of the previous trend
what to do then ? -If BTC go below 3575 : short-sell -If BTC drop below 3150 : keep shorting
-If BTC close daily above 4600 : long -If BTC close weekly above 4600 long 25x leverage
WHY? BTC dropped from 6150 to 3500 formed a bottom but couldn't break 4600 so fell to a new low tried the zone again but then drop to 3575 now in the range : 4200/3575
this is TA now let’s talk about fundamental analysis.
FA BTCUSD 1) i’d like to talk about the MVRV signal as you can see on the graph i sent BTC price went under the MVRVS only a few times, and it was always at the bottom and each time it closed above the MVRVS it started a bull-run
well, we can buy BTC under this MVRVS for sure, each time it did went under it, it took time for it to get above it again, and it act like : price go under the MVRVS price test the MVRVS get rejecteed and BTC price drop then break it and start to bull
The BTC is actually under the MVRVS, havent tested it yet MVRVS is actually sitting around 4577usd it makes it a strong resistance
2) i’d also like to talk about the NVT SIGNAL as you can see on the graph i sent each time the NVTS goes too high, BTC drop. to mark a bottom the NVTS have to touch the support, but it hasent yet, following the TA BTC have a resistance at 4620 usd following the MVRVS BTC have a resistance at 4577 following the NTV BTC is overvalued
that might sounds bad, but, if we breaks this resistance it’ll start a bull-run, otherwise… short is the option to make money on the way down !