Of bitcoin (BTC) rate is after a long time finally again in serious battle to break the $40,000 and thus the upper region of the current price range. This article contains three graphs containing a number of bullish signals!
Starting with a chart sourced from Glassnode. Analyst Will Clemente shared a chart of the “Bitcoin Illiquid Supply Ratio,” showing bitcoin’s illiquidity. For example, the bitcoins of a whale the one on a cold wallet standing are seen as illiquid, a positive signal. The more bitcoins are illiquid, the smaller the supply of bitcoins on the market.
“The Illiquid Supply Ratio has taken another leap.
Bitcoin’s “supply shock” is now at the same level when bitcoin was worth $53K.
A consolidation after 10 consecutive green days is very likely, but I remain optimistic in the coming weeks.”
Illiquid Supply Ratio has taken yet another leg up.
Bitcoin “supply shock” is now at levels that previously priced Bitcoin at $53K.
Consolidation after 10 straight green days is very reasonable but still remain bullish over the coming weeks. pic.twitter.com/mwVHj4DmKA
— Will Clemente (@WClementeIII) July 31, 2021
Then a chart shared by Dr. Jeff Ross, founder and CEO of Vailshire Capital Management. In his tweet he makes a comparison with 2013. Then bitcoin also had a hard time due to negative news, but the price cleared five green monthly during the second half of that year. candles to shape.
“After a chaotic three months of news and price action, bitcoin continued to make five green monthly candles in a row and rose ~10x in the second half of 2013.
I still expect 2021 to develop in the same way.”
Following a troubling three months of news and price action, #bitcoin went on to print five green monthly candles in a row and went up ~10x in the second half of 2013.
I still contend that 2021 will behave in similar fashion.
Just a guess. Do what you must with this information pic.twitter.com/5Pdh16OG82
— Dr. Jeff Ross (@VailshireCap) July 31, 2021
And finally a chart from ChartBTC. This graph shows how much all-time highs (ATH) bitcoin has formed during the past two cycles and how many have formed during the current cycle. Notably, during the 2013-2014 cycle, 52 ATHs were formed and 74 ATHs during the 2017-2018 cycle. In the current cycle there are only 30. In short, is there even more this year?
“History doesn’t repeat itself but it often rhymes” #bitcoin
A repeat would be a Q4 blow off top. New ATH’s into 2022 seem more likely. Super cycle/last cycle will depend on what happens in 2023 IMO. https://t.co/07Ryn3pcTf— ChartsBTC (@ChartsBtc) July 31, 2021
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