Analyst: Bitcoin bullish signals strengthen, with 79% indicator alignment

PANews July 16 reports that CryptoQuant analyst Axel Adler Jr. wrote that the Bitcoin market structure has shifted from bearish to bullish and has held for a second week. A model that incorporates multiple market data points shows that Bitcoin’s status score has rebounded from the -42.9 low on June 26 to +34.7. Over the past week, the score remained in positive territory more than 80% of the time, and it touched a temporary high of +65.3 on July 10, indicating that the overall market condition has shifted from being seller-dominated to buyer-favorable.

Several 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 are no obvious contradictions among the data and that the current bullish signal is not noise. Next, if the market structure score rises further to above +50 and the consistency remains above 80%, the bullish structure will be further confirmed; if the score continues to fall below zero and the consistency drops below 40%, the current structure will be considered invalid.