Bitcoin price blasts by $17.5K, but not all agree rally is sustainable — Mickael Mosse

Bitcoin image in laboratory explosion, Mickael Mosse website

A minor Bitcoin pullback?

“Tokens transferred (not entity-adjusted) on the bitcoin network is increasing, indicating that whale wallets are moving their funds. And fund flow ratio for all exchanges is decreasing, meaning that exchanges did not evoke these large transactions. […] I think massive OTC deals are still on-going. That’s one of the key reasons why I’m still long-term long on bitcoin.”

“Looking at ‘exchange whale ratio (72h ma)’, the BTC price is likely to face small corrections. […] when this is lower than 85%, the chances of the price continuing to rise is high. Between 85% and 90% indicates a correction, and above 90% suggests that a large drop in price can occur. We have some correction risk as this value goes above 85% lately.”

A continuous bull rally until the year’s end

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