ShayanMarkets
Selling pressure is reletively high!
This chart consists of the 30-day moving average of the Taker Buy/Sell Ratio metric and Bitcoin’s price. Values above 1 indicate that more buyers are willing to buy coins at a higher price showing that buying pressure is stronger than the selling pressure and there is a strong possibility of price rise which shows the bullish sentiment while values below 1 indicate that more sellers are willing to sell coins at a lower price showing that sell pressure is stronger than the buying pressure. Historically, when the moving average hits the red zone, it indicates strong selling pressure and is a bearish signal, and when it reaches the green zone, it suggests strong buying pressure and is a bullish sign. Currently, the MA is plummeting significantly and is reaching the red zone hence, another short-term bearish leg is probable.