NIA's BTL Group (TSXV: BTL) began to breakout big on Friday, gaining $0.44 or 15.66% to $3.25 per share on strong volume of 238,910, and currently 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.
When NIA first suggested BTL on March 3rd at $2.44 per share, it immediately soared $0.81 or 33.2% to $3.25 per share on record volume of 617,308. When BTL first closed at $3.25 per share back on March 3rd, its 14-day relative strength index (RSI) hit 82.98 - indicating that the stock was extremely overbought. The following day when BTL gained another $0.65 or 20% to $3.90, its RSI rose to 85.45 - making it even more extremely overbought. BTL was overdue for a healthy dip/shakeout to higher lows, before rising to higher highs!
BTL dipped to a low of $2.53 as profit takers/weak hands exited, but immediately began to rebound strongly! BTL's current RSI at $3.25 is only 61.52. BTL has room to rise all the way to $5.50 per share before its RSI once again surpasses 80! Click here to analyze NIA's must see BTL technical chart!
Prior to BTL's healthy dip/shakeout, it had been following the price of Ethereum extremely closely. Ethereum bottomed on December 7th at a record low of $6.90 vs. BTL's December 7th closing price of $1.20. When BTL closed at $3.25 for the first time on March 3rd, Ethereum was trading for $18.44. Between December 7, 2016 and March 3, 2017: BTL gained 171% vs. Ethereum gaining 167%!
Today, BTL is once again up 171% since December 7th, but Ethereum is now up 572% since December 7th! BTL has a lot of catching up to do and NIA believes it is about to become the #1 hottest play in the entire market!
Since December 7th, BTL has averaged a price of 0.1512X the price of Ethereum. The current BTL/Ethereum price ratio of 0.0701 is a stunning three standard deviations below the mean. NIA expects this ratio to return to the mean within the next week or two. Based on the current Ethereum price, BTL will need to make a move to $6.76 per share!
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