Bitcoin Taker Buy-Sell Ratio Rebounds Back Into “Hold” Zone
03 Mai 2022 - 9:00PM
NEWSBTC
On-chain data shows the Bitcoin taker buy-sell ratio has rebounded
back into the “hold” zone after touching the selling level. Bitcoin
Taker Buy-Sell Ratio Observes Brief Uplift Recently As explained by
an analyst in a CryptoQuant post, taker buy-sell ratio may have a
hint about where BTC can head next. The “taker buy-sell ratio” is
an indicator that measures the ratio between the Bitcoin buy volume
and the sell volume. When the value of this metric is above one, it
means the long volume is more than the sell volume at the moment.
Such a trend suggests the sentiment is bullish in the market right
now. On the other hand, ratio values below one indicate that the
general sentiment among the investors may be bearish right now.
Now, here is a chart that shows the trend in the Bitcoin taker
buy-sell volume over the last couple of years: The value of the
indicator seems to have observed a small surge recently | Source:
CryptoQuant As you can see in the above graph, the quant has
divided the Bitcoin taker buy-sell ratio into three different
zones. The analyst believes it’s best to buy BTC when the indicator
is in the green zone, and to sell during periods of the red region.
Related Reading | Bitcoin Holders Trigger Largest Capitulation
In Its History, Bearish Horizon For BTC? The yellow portion between
these two is the “hold zone,” where holding until the metric
touches the upper red level can be the ideal course of action.
Recently, the indicator plunged down and tested this upper sell
level. However, since then the metric has rebounded back up a bit
instead of diving inside the red zone further. Such a formation has
been observed a few times in the last two years, and the analyst
has highlighted these with a purple box. Related Reading
| Bitcoin Price Continues Struggle, But Miners Refuse To Sell
It seems like the last couple of times this trend occurred, the
price of Bitcoin observed some uptrend shortly after. So if this
pattern repeats this time as well, the quant believes the crypto is
likely to see another rebound this month or the next. However,
something worth noting is that one more instance of this Bitcoin
taker-buy sell ratio formation took place in early 2020, but back
then the price instead followed up with a crash. BTC Price At the
time of writing, Bitcoin’s price floats around $38.3k, down 4% in
the last week. The below chart shows the trend in the price of the
crypto over the past five days. It looks like the price of BTC has
mostly moved sideways over the last few days | Source: BTCUSD on
TradingView Featured image from Unsplash.com, charts from
TradingView.com, CryptoQuant.com
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