Bitcoin (BTC) Remains Strong”bullish” a 23.000$: and the opinion of on-chain analyst Cole Garnerwhich has some trading tools under consideration soon “tested and validated” in BTC.
Garner: These signals should excite bulls
As BTC/USD tries to push the price above $23,000, debate rages on whether a possible correction is coming for Bitcoin. But for Garner there are no doubts: the general picture appears decidedly positive. “It looks incredibly bullish right now,he summed up in a comment.
One of the parameters examined by Garner is the relationship between BTC and stablecoins on exchanges. This value has reached multi-year highs, with figures even higher than in 2020.”This indicator is rarely wrong,” explained the analyst.
Traditionally, the high liquidity of stablecoins suggests a bullish continuation: it means that traders are ready to buy Bitcoin or other cryptocurrencies, they are just waiting for the right moment.
Garner then highlighted the on-chain volume traded in profit: this parameter has also reached its highest levels for at least three and a half years. “Generate trading signals faster, with a longer track record. It’s very bullish right now,” It reaffirmed.
According to the latest data from Glassnode, the realized profit/loss ratio is recovering, in line with the price increase.
