- Bitcoin could soon skyrocket as buyers are taking over, claims an analyst.
- The Bitcoin Taker Buy-Sell Ratio has confirmed a reversal as buyers take over.
- A breakout above $100K-$105K could confirm a bullish outbreak for Bitcoin.
Bitcoin could be headed for massive gains as key indicators highlight the chances of a new all-time highs real soon.
Analyst “ShayanBTC” posted a note on CryptoQuant, highlighting a Taker Buy-Sell Ratio Reversal showing buyers are pushing back to take over control from the bears.
Buyer Domination Signal
The Bitcoin Taker Buy-Sell Ratio measures how aggressive market participants are acting by analyzing whether buyers or sellers are dominating futures market orders. A ratio above 1 signals that buyers are dominating the orderbook, while a ratio below 1 indicates that sellers are in control.
According to ShayanBTC, the 14-day moving average of the Taker Buy-Sell Ratio showed a bullish reversal right after a decline. This suggests that buyers are regaining control, which could fuel a bullish rally if the trend keeps up. The analyst noted that BTC “has left investors questioning why the market can’t keep its upward momentum…
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