Relaying from blogger.
Note originally written June 16Weekly resistance is around 9600, above that not much until 11k.
Though i personally believe 10k will be a big psycological hurdle.
5 digits zone, 50+% from ath etc pp.
I really wouldn’t mind going sideways for a significant period now. I’m a bit uncomfortable with massive increases in price over a short time because it usually ends up ending badly.
Consolidation & low volatility for a few months now would be most welcome imo.
This will happen! But when?
http://charts.woobull.com/bitcoin-nvt-signal/Edit: dick knows him! He himself:
Build theories on:
History Repeat?
Technical analysis of a newborn product?
It's all shit
In one of the
possible scenarios I have speculated about based on fractal patterns (and corroborated with the stock-to-flows model), there would be a re-acceleration analogous to the nascent period before 2012 when the NVT signal was orders-of-magnitude higher.
Essentially the higher NVT signal indicates a smaller liquid
float and/or more
BTC activity offchain, which in prior bubbles probably meant activity on exchanges. That was the case during the said nascent period when there was no reason to transact in
BTC other than buying a pizza for
BTC10000. And lately we have numerous new stablecoins on exchanges (for pumping the price before
Craig’s claimed plan to attack at the halving), Bakkt, and Lightning Networks all offchain.
So the point is the NVT could potentially go much higher before any significant decline.
We could be possibly see a significant spike BEFORE the halving with a
collapse in the Core altcoin price to ~$775 at the halving and with Satoshi’s original Bitcoin (not BSV nor BCH) skyrocketing towards $1 million before ~2028. I have speculated that in such a scenario, the price could launch up to
possibly $78k quite abruptly possibly even before the halving. Or perhaps only up to
between $10k and $18k.
(click links for charts)