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.
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