Author: Cole Garner, Crypto KOL

Compiled by: Felix, PANews

Bitcoin and the cryptocurrency market seem ready to launch a bull market, and crypto KOL Cole Garner has listed 7 indicators that suggest a bullish trend.

Whale Accumulation

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

The accumulation trend of whales is the cornerstone of a bull market, and below is another (very different) indicator about whales.

Nansen's Smart Money Indicator

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

Asian Market

When buyers dominate the Asian trading session, the prices of BTC and ETH rise. This has almost always been the case during major rallies in the past. The time when the Asian market starts selling is usually near the market top. The author has developed an algorithm to test the current dynamics of the market (the author is about to open source the algorithm), and the test shows that the Asian market is currently in the buying phase.

Bitcoin to Stablecoin Ratio

The Bitcoin to stablecoin ratio on Bitfinex sharply rises in the weeks leading up to every major Bitcoin bull market launch.

Asset Rotation Aperture

Bitfinex's Asset Rotation Aperture indicator can simultaneously track the delta of accumulated trading volume and open interest of multiple assets. Currently, three of them are bullish.

Bitfinex BTC long margin (deep yellow in the image below)

Bitfinex BTC long/short margin (green in the image below)

Bitfinex spot BTC (light yellow in the image below)

Stablecoin Market Cap

The stablecoin market cap ratio is currently bullish, but it may continue to move sideways indefinitely.

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

Summer Bull Markets

Looking back at the cryptocurrency market's trends over the past decade, bullish trends have often occurred in the summer. A major shakeup is expected to come, but it may not happen until September. The market should have a few more weeks.

This bullish theory will fail if the weekly closing price is below the 200-day moving average.

Related reading: Analyzing the current state of the crypto market: When will the next bull market arrive?

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