Looking at these these graphs and metrics, sure those conclusions would make sense, and understand that I personally haven't even heard of these fantastic sounding metrics before (being a new crypto user and steem user).
I just want to bring everyone's attention to another article on this, which gives a kind of inverse outlook on the current state of the bitcoin price.
http://www.newsbtc.com/2017/06/12/bitcoin-price-technical-analysis-for-06122017-rising-wedge-pattern/#
Note: I am not the author of the article, merely somebody curious in exposing / opening potential discussion for all the possible outcomes.