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Analyst: Bitcoin bullish signals strengthen, with indicator consistency at 79%

MarsBitNews
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Mars Finance news, CryptoQuant analyst Axel Adler Jr. wrote that the Bitcoin market outlook has shifted from bearish to bullish and has held for a second week. A model combining multiple market data points shows that the Bitcoin status score has rebounded from the -42.9 low on June 26 to +34.7. Over the past week, the score has remained in positive territory more than 80% of the time. On July 10, it reached a stage high of +65.3, indicating that the overall market condition has shifted from being seller-dominated to buyer-leaning. Multiple sub-indicators included in the model currently point in the same direction 79.4% of the time, far above this month’s average of 57.3%, suggesting there is no significant contradiction among the data and that the current bullish signals are not noise. Next, if the market outlook score further rises to above +50 and the consistency remains above 80%, the bullish scenario will be further confirmed; if the score continues to fall below zero and consistency drops below 40%, the current outlook will be considered invalid.
BTC-0.81%
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