Bitcoin continues to face downward pressure

Bitcoin-continues-to-face-downward-pressure

Over the past year, the trend of the Taker Buy&Sell CVD (30DMA), which represents the difference between the longs and the shorts, shows that the longs have been outnumbered by the shorts, but the longs have been gradually losing ground and now the shorts have more volume than the longs.

If the longs manage to break above the descending channel, looking for a reversal, BTC price will likely move higher. However, if the shorts continue to dominate the volume, its price will have to keep dealing with a lot of downward pressure going forward.