The Bitcoin NVT Golden Cross metric is forming higher lows—could this be signaling a potential upward movement?
When we examine the performance of the NVT Golden Cross metric this year, we observe that it has been making lower highs since March 31, 2024. Similarly, Bitcoin's price action has struggled to surpass its previous peaks. Could we be nearing the end of this phase?
As I search for an answer to this question, one detail caught my attention.
Since August 5, 2024 (during the Japan mini-crisis), the NVT GC has been forming higher lows, which is quite noteworthy. We are witnessing the NVT GC compressing within a triangle, which could suggest that the next price movement—whether upward or downward—will be sharp. I will continue monitoring this closely and provide updates.
Thank you for reading.
Written by burakkesmeci
