MVRV Z-Score: Review 30. 04. 2024
📚 Let's take a look again at the MVRV Z-Score:
▫️ I cyclically return to one of my favorite indicators, which is the MVRV Z-Score for #Bitcoin.
▫️ I do not treat this as a definitive determinant, but I like to sometimes look at how the price behaved in the past.
***
▫️ I still maintain my opinion from the analysis of April 13, 2024.
▫️ I assume that we are still facing a short period of decline or sideways movement in the price of #BTC. I do not know how low we will go and what the appropriate entry price is, as I do not analyze this in detail.
▫️ Traditionally, in the short term after the halving, we could observe stagnation and declines. Only after some time does an upward momentum appear in the price of Bitcoin. This time, too, I believe it will be the same.
▫️ I assume that this year we will see large and extremely dynamic increases in the price of #BTC. Of course, I am constantly monitoring the MVRV Z-Score chart and waiting for it to approach the so-called red zone. For me, this will be a signal to exit most positions.
▫️ We also have a time aspect in the background. Ahead of us are the holidays, which are usually a rather quiet time in the market, and we can even characterize it as stagnation. Many people follow the principle of "Sell in May and go away."
▫️ I think this time it will not be the case, and we will see increases in BTC even during the holidays (perhaps towards the end). Nevertheless, this is my conjecture/speculation and stems from intuition and current observation of the market.
***
❗️ Remember that history does not have to repeat itself, and what I have written here is only my thoughts and a kind of speculation.
🔗 link to the chart: https://www.lookintobitcoin.com/charts/mvrv-zscore/
📚 Let's take a look again at the MVRV Z-Score:
▫️ I cyclically return to one of my favorite indicators, which is the MVRV Z-Score for #Bitcoin.
▫️ I do not treat this as a definitive determinant, but I like to sometimes look at how the price behaved in the past.
***
▫️ I still maintain my opinion from the analysis of April 13, 2024.
▫️ I assume that we are still facing a short period of decline or sideways movement in the price of #BTC. I do not know how low we will go and what the appropriate entry price is, as I do not analyze this in detail.
▫️ Traditionally, in the short term after the halving, we could observe stagnation and declines. Only after some time does an upward momentum appear in the price of Bitcoin. This time, too, I believe it will be the same.
▫️ I assume that this year we will see large and extremely dynamic increases in the price of #BTC. Of course, I am constantly monitoring the MVRV Z-Score chart and waiting for it to approach the so-called red zone. For me, this will be a signal to exit most positions.
▫️ We also have a time aspect in the background. Ahead of us are the holidays, which are usually a rather quiet time in the market, and we can even characterize it as stagnation. Many people follow the principle of "Sell in May and go away."
▫️ I think this time it will not be the case, and we will see increases in BTC even during the holidays (perhaps towards the end). Nevertheless, this is my conjecture/speculation and stems from intuition and current observation of the market.
***
❗️ Remember that history does not have to repeat itself, and what I have written here is only my thoughts and a kind of speculation.
🔗 link to the chart: https://www.lookintobitcoin.com/charts/mvrv-zscore/
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