Bitcoin (BTC) is absorbing today, July 25, 2020, the red candlestick of yesterday, July 24, 2020. The bulls are gradually moving away from the territory of the bears but, the danger is not far away however. A few fundamentals are added to those already in the green: positive effects in the short term or will you have to wait a little longer to see the real bull run?
Red dots for a BTC in the green
Bitcoin crossed the $ 9,600 mark, but it is still too early to know if the BTC will manage to consolidate above that level until today’s daily close, coinciding with the weekly close.
Bitcoin must now successfully hold the 5 hour moving average, to start the new trading week above $ 9600.
Plan B gave news today about the evolution of Bitcoin related to Stock-to-Flow. Plan B identified 2 red dots: the first at the 9,132 USD level – June 2020 closing point – and the second at the level of 9,600 USD.
Will the red dots play their role as a bullish pivot point? Or will you be entitled to days in the red in the next few days?
The green and red peaks
In this bullish period, the new ATHs around the Bitcoin seem much more relevant. The number of wallets containing 1,000 BTC and more, reached a new 9-month high with 2,170 wallets BTC.
The daily moving average over 6 to 12 months of the active offer of bitcoins, on the other hand hit a new 13-month low at 1,957,244.982 BTC.
Whales BTC more and more and an increasingly rare active offer: the only ingredients you need Bitcoin to explode?
We will not complain about the current suspense after the long period of Bitcoin price compression we have been entitled to. We will see if Josh Rager’s formula will unfortunately be confirmed, or if we will be entitled to a bull run without a dive. 2020 was an exceptional year with COVID-19, so why not an exceptional scenario of a bull run that stands out from the previous ones?
Litecoin, welcome in the Silver Age