Connect with us

Ethereum

Last Time Bitcoin (BTC) Technicals Looked As It Did Now, A 80% Drop Ensued

Published

on

Technicals Show Bitcoin Is Entering Precarious Territory

According to “HiThrowaway”, Bitcoin (BTC) is looking like it is on the verge of a potential drawdown. In a recent tweet, the trader noted that the last three times the asset’s one-week chart looked as it does now, 82%, 85%, and 83% drops were seen. More specifically, the last times the Relative Strength Index (RSI), Money Flow Index (MFI), and the Network Value to Transactions Ratio (NVT) sat at current levels, BTC fell dramatically.

He isn’t wrong. As seen in the charts below, when the three indicators reached “oversold” levels, as they are ...

Read More

Continue Reading

Latest

Companies