IT Tech
Bitcoin price spikes +5% within 1h - Are bulls taking control?
BTC price spikes +5% within 1h. Last 2 weeks we observed advantage in short positions on futures market. Funding rate was negative mostly in time. Looks we had little short squeeze and liquidations worth almost $30M within 1h. Taker buy/sell ratio chart š¢ Over green line (value 1.02) - ultra bullish sentiment and buy pressure. š“ Under red line (value 0.98) - ultra bearish sentiment and sell pressure. šµ Blue line (value 1) - Values over 1 indicate bullish sentiment is dominant. Values under 1 indicate bearish sentiment is dominant. šµ Bluet dots - it's 30D Moving Average of Bitcoin taker buy/sell ratio Taker buy/sell ratio just crossed 30D MA 1.01 which means investors are buyring using market price. Bulls are taking control again. Selling pressure is decreasing. It's not end of correction but as You can see more ivestors is buying than selling (taker buy/sell ratio).