Short-term bearish divergence according to MVRV 7d Detrend Filter.

Short-term-bearish-divergence-according-to-MVRV-7d-Detrend-Filter

Suppose we remove the long-term price trend from the fundamental on-chain metric "MVRV" and apply a 7-day Detrend Filter (Oscillator). In that case, you can see that the detrend oscillator has formed a regular bearish divergence with a short-term target of falling Bitcoin to $21,000-$20,000.

Generally, it's beneficial to occasionally apply a detrend filter to eliminate long-term price noise and better identify market bottoms and peaks.

You can follow the attached link directly to the chart and see that the detrend filter often generates fairly accurate signals.