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Bitcoin: These trigger points are key to checking if BTC is going bearish
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For the better part of the last few months, Bitcoin investors have been in a state of euphoria as the king coin rallied and hit new highs. However, every vehicle runs out of fuel every now and then.
So, the question is – How long will it be before Bitcoin’s rally runs out of fuel? Or has it already?
As far as price movement is concerned, the likelihood of a major fall seems to be rather low. However, at press time, some on-chain indicators seemed to be imitating May 2021 cues while some others were hitting their threshold.
The illiquid supply shock ratio, for instance, just over a month after it recovered from the bearish divergence that broke 2019’s uptrend. This was followed by the May drawdown, one during which Bitcoin fell by 53% in 3
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