Overview of 7 Bullish Indicators: Will the Crypto Market Go Bullish?

Author: Cole Garner, Crypto KOL

Compiled by: Felix, PANews

The Bitcoin and cryptocurrency market seems ready to fully launch a bull market, as crypto KOL Cole Garner reviews 7 indicators that suggest a bullish trend.

Whale Accumulation

Data research firm Jarvis Labs has been pointing out the accumulation pattern of whale wallets since May.

The trend of whale accumulation is a pillar of a bull market, and here is another (very different) indicator regarding whales.

Nansen's Smart Money Indicator

Nansen's Smart Money Indicator shows that smart money is not taking too much profit but is accumulating ETH.

Asian Market

When buyers dominate the Asian trading session, the prices of BTC and ETH tend to rise. This has almost always been the case during significant market movements. The timing of sell-offs in the Asian market usually occurs near market tops. The author has built an algorithm to test the current dynamics of the market (the author will soon open-source the algorithm), and the tests show that the Asian market is currently in a buying phase.

Bitcoin to Stablecoin Ratio

The Bitcoin to stablecoin ratio on Bitfinex tends to spike sharply a few weeks before each major Bitcoin bull market begins.

Asset Rotation Aperture

Bitfinex's Asset Rotation Aperture indicator can track the delta of accumulated trading volume and open contracts for multiple assets side by side. Currently, three indicators are bullish.

Bitfinex BTC Margin Longs (deep yellow in the chart below)

Bitfinex BTC Margin Longs/Shorts (green in the chart below)

Bitfinex Spot BTC (light yellow in the chart below)

Stablecoin Market Cap

The stablecoin market cap ratio currently appears bullish, but it may develop sideways indefinitely.

However, the stablecoin market cap ratio is being crushed relative to its logarithmic trend line, which is one of the most important resistance levels in the crypto market (inverted, resistance acts like support). To enter a full bull market, the logarithmic trend line may need to be broken. (This is entirely possible).

Summer Bull Market

Looking back at the past decade of the crypto market, bullish trends often occur in the summer, and a significant shake-up is expected, likely by September. The market should have a few more weeks.

This bull market theory will fail if the weekly closing price falls below the 200-day moving average.