Key points:
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According to a list of 30 “bull peak” indicators, there is no reason to sell Bitcoin’s historical highs.
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So far, one of the 30 indicators has not flashed long-term highest signal.
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Market participants still have differences over whether BTC price action can really continue to print new records.
Bitcoin (BTC) Investors should “hold 100%” at current prices, even at all-time highs and 30% Q2 earnings.
List of 30 top indicators for bull markets for monitoring resources Small shop There is still a need for up to 120% of BTC price upside.
“Keep 100%” says 30 BTC price indicator
Bitcoin may consolidate after repeating new all-time highs, but the classic Onchain metric list shows no signs of market exhaustion at all.
Coinglass curated “bull peak” selection contains 30 potential sales triggers designed to capture long-term BTC price increases. Currently, none of its components are flashing the top signal.
“Depending on these models, $btc will be $135K to $230k in this cycle,” said Popular Businessman Cas Abbe in part X Posts About the topic of June 13.
In particular, ABBE highlights three indicators: the top of the PI cycle, the market value of realization value (MVRV) and the long-term relative strength index (RSI) – Prove that the Bitcoin bull market still has enough room to run.
He concluded: “This is not the top.”
Cointelegraph is already tracking Data from PI Cycle Top and MVRV will be noted in March that previous bull markets ended with “overheating” visible Onchain.
Coinglass currently classifies BTC as a “hold 100%” asset based on tips obtained from the top 30 metrics.
Bitcoin Price Action Lottery 2021 Comparison
Not all market participants are confident in the prospects of BTC/USD, especially in the short term.
Related: Bitcoin withheld $105K as oil price outlook
As Auxiliary instrument reportBitcoin rebounded from its low below $75,000 in April and has now seen three rejections of resistance through the Bollinger Bands volatility indicator.
This week, band creator John Bollinger warned that the upward trend in BTC prices could give way to a merger or even a complete reversal.
Other market participants also doubt Bitcoin’s ability at its current all-time high.
These include popular businessman Rome, which compared the current climate to the end of 2021 this week, just before the start of Bitcoin The nearest bear marketBTC/USD fell by 80% during this period.
“This price action seems to be more distributed than accumulative/bullish. It follows almost the same chopping nature at the end of 2021,” he said. debate To X followers.
“Note that the price can hardly be raised without falling – bigger players sell to pumps.”
Bull rebuttals usually revolve around Institutional needs – Things that were obviously lacking four years ago and a more mature market environment.
This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
