Bitcoin ( BTC ) reached new highs at $42,400 on July 31 in a surprising attack on range resistance that sellers failed to quell.
Data showed BTC/USD gaining for the tenth consecutive day on exchanges, reaching $42,420 on Bitstamp.
The subsequent cooling retained most of the gains, with bitcoin at $41,900.
In trading circles, the conversation has focused on the rare outcome of Bitcoin's daily chart - after all, ten green candles in a row last occurred in 2012.
Even eight days of consecutive increases are rare, and nine have only been observed twice. Depending on the exchange, the data can vary slightly - Coinbase saw 12 green candles one after another in May 2017, noted one Twitter user.
Regardless, what was striking was the strength of Bitcoin on the one hand and the lack of bearish selling pressure on the other.
A glance at the short activity on the large Bitfinex exchange underscored the current mood, as almost no investor would want to take the risk of shorting the spot price of Bitcoin at current levels.
