Willy Woo’s Bitcoin price prediction: BTC has ‘room to run’ and that means…

Bitcoin’s price can head in so many different directions as the year goes on. It all depends on…recorded a notable hike recently, with gains of 4.9% seen over the past week. This uptick has contributed to a broader bullish trend across the cryptocurrency market. Analysts are now closely monitoring various indicators to predict what might lie ahead for the world’s leading cryptocurrency.

One such analyst, Willy Woo, shared his insights on the Volume-Weighted Average Price Oscillator for Bitcoin, discussing its potential implications for future market movements.into the VWAP, a technical indicator that averages the price of an asset while considering the volume of transactions at each price level. This approach gives more importance to price levels with higher trading volumes, providing a more balanced view of price movements.

For Bitcoin, Woo specifically examined the VWAP using on-chain volume, which benefits from the transparency of the blockchain to provide clear data to all observers.The focus of Woo’s study is the VWAP Oscillator, which measures the ratio between Bitcoin’s spot price and its VWAP, displaying this relationship in a form that oscillates around zero.Recent trends revealed that the VWAP Oscillator has been in negative territory for the past few months, but is now on an upward trajectory.

Historical data also seemed to indicate that when the VWAP Oscillator exits the negative zone and starts to climb, it often precedes a period of bullish momentum for Bitcoin. The price typically continues to surge until the oscillator peaks in positive territory and begins to decline. According to Woo, this pattern means that “there is still a lot of room to run before a reversal or consolidation occurs,” making it a challenging time for bearish investors in the market.an increasing number of purchases from retail investors. According to the analyst, they have now bought roughly $135.7 million worth of Bitcoin over the past month alone..

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