Allemann: “Bitcoin Silence Heralds A Huge Price Explosion”

Glassnode co-founder Yann Allemann stated that Bitcoin (BTC), which has been flat for a while, may be on the verge of a big explosion. Yann Allemann suggested that the Bitcoin price is ready for a bullish move. Expressing in a recent social media post that Bitcoin consolidated before $35,000, the co-founder could not hide his excitement. Pointing out that the dollar liquidity in the market has also increased, Allemann described this situation as an important data that has the potential to trigger a serious rise.

Dollar market liquidity is slowly increasing and Bitcoin has the potential to spark a significant move. Could this be the anticipated catalyst on the road to $35,000? The long-term trend shows that the consolidation process will lead us to higher prices, but bullish buyers need to step in first.

On the other hand, Allemann reminded that big movements came after such consolidated situations experienced below the 50-day moving average (MA50) and marked similar situations in the past periods on the chart. He also added that as the basis for this bullish forecast, the short positions have been exhausted and the support levels have been working very well so far.

On the other hand, Allemann, who detailed this thesis in a blog post, stated that Bitcoin has seen the bottom level structurally and the price is holding strongly above the 50 and 200 Simple Moving Average (SMA). He emphasized that the protection of the support zone we are in confirms the upward trend.