NIA’s #1 favorite cryptocurrency Ethereum is beginning to breakout big once again and is up 11.32% today to $47.08! Look for NIA’s BTL Group (TSXV: BTL) to surpass its key breakout point of $3.98 per share and explode as soon as today or tomorrow – it has gained the last four straight days, closing yesterday at $3.82 per share!
On March 3rd, NIA announced BTL at $2.44 as its #1 Ethereum stock suggestion. On March 6th, BTL hit a new all-time high of $3.98 per share for a gain of 63.11% from NIA’s suggestion price! Afterwards, BTL saw profit taking and dipped to a March 8th low of $2.53 per share, but immediately began to bounce big – continuing its trend of dipping to higher lows before soaring to higher highs!
NIA last alerted you about BTL on March 17th after it gained $0.44 or 15.66% in a single day to $3.25 per share. NIA said on March 17th, “BTL has the #1 best looking chart in the entire market. BTL looks perfectly poised to rise to new record highs. As soon as BTL breaks its all-time high of $3.98 per share set on March 6th, look for it to immediately explode into the $4.50-$5 range within the following 24-48 hours.”
BTL has gained the last four straight days, rising a total of $0.67 or 21.3% to $3.82 per share – its second highest closing price since our suggestion! BTL could surpass its key breakout point of $3.98 per share as soon as today or tomorrow!
BTL’s 5-day volume weighted average price (VWAP) is now up to $3.39 per share – a record high! When BTL set its all-time high of $3.98 on March 6th, its 5-day VWAP was only $3.07 per share – and it peaked at a price that was 29.66% above its 5-day VWAP. BTL has reached a price of at least 29.66% above its 5-day VWAP on six occasions over the past year. Currently, a price of 29.66% above BTL’s 5-day VWAP would value it at $4.39 per share – and after another day or two it will value BTL in the $4.50-$5 per share range.
When BTL set its all-time high on March 6th of $3.98 it had a 14-day relative strength index (RSI) of 85.45 making it extremely overbought. BTL’s current 14-day RSI at $3.82 is only 72.27, which is equal to its RSI on March 3rd when NIA first suggested it at $2.44 per share – just prior to it exploding 63.11% to $3.98 per share! For BTL to once again become extremely overbought with an RSI of 85.45, it will need to make a move in the upcoming days to $6.50 per share!
Fundamentally, BTL got ahead of itself on March 6th when it closed at $3.90 per share vs. Ethereum then trading for $19.35 – equaling a record high BTL/Ethereum price ratio of 0.2015. Since November 1st, BTL has traded at a median of 0.14X the price of Ethereum. Currently, the BTL/Ethereum price ratio is only 0.081 – making BTL extremely undervalued!
The BTL/Ethereum ratio has been trending sharply upward since bottoming one week ago at a record low of 0.0596, and appears to be on its way back to the median of 0.14. BTL’s current fundamental fair value based on the median BTL/Ethereum ratio of 0.14 is $6.61 per share!
BTL is about to close on a HUGE private placement of $3.105 million! On March 22nd, BTL announced that it was looking to raise $2.7 million in a private placement of 1 million shares at $2.70 per share. Demand was so strong that the very next day, BTL increased its private placement amount to $3.105 million!
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