On the BTC price chart - the third compression in this bull cycle, writes CryptoQuant.

#CryptoQuant analysts note on the daily chart another phase of strong price compression, and such behavior on the 180-day range chart was previously observed before major impulses.

The range indicator (orange zone) is falling - currently around 37%, which historically signals energy accumulation before movement.

In the bull cycle of 2015-2017, a similar triple structure (1-2-3) ended with an explosive growth in 2017. Analyst Axel Adler commented on this, "We will soon see how tightly the spring is compressed this time." For him, the question is not about the direction, but about the strength of the impulse.