{"id":608455,"date":"2024-05-17T04:00:57","date_gmt":"2024-05-17T04:00:57","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=608455"},"modified":"2024-06-11T08:21:50","modified_gmt":"2024-06-11T08:21:50","slug":"bitcoin-room-run-before-reversal-analyst","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/bitcoin-room-run-before-reversal-analyst\/","title":{"rendered":"Bitcoin Still Has “A Lot Of Room To Run Before Reversal,” Says Top Analyst"},"content":{"rendered":"

An analyst has explained how the data of an oscillator for Bitcoin could suggest the cryptocurrency still has plenty of room to run in this rally.<\/p>\n

Bitcoin VWAP Oscillator Could Imply Potential For Further Upside<\/h2>\n

In a new post<\/a> on X, analyst Willy Woo discussed what the latest trend in the Volume-Weighted Average Price (VWAP) Oscillator for BTC might suggest regarding what could be next for the cryptocurrency.<\/p>\n

The VWAP<\/a> is an indicator that calculates the average price for any asset by taking into account the price fluctuations themselves and weighing the values against the trading volume.<\/p>\n

Related Reading: XRP & Cardano Whales Load Up Bags: Preparation For Altcoin Rally?<\/a><\/div>\n

This means that the prices of the assets where there was a higher volume of trading have a higher weightage in the average than those with only a low amount of volume.<\/p>\n

Traditionally, the VWAP is a technical analysis indicator that considers the information available through spot exchanges. In the context of the current topic, the VWAP uses the on-chain volume of Bitcoin instead, which is readily viewable by anyone thanks to the blockchain’s transparency.<\/p>\n

The indicator of interest here isn’t the VWAP but rather the VWAP Oscillator, as mentioned earlier. This metric keeps track of the ratio between the BTC spot price and the VWAP and presents it as an oscillator of around zero.<\/p>\n

The chart below shows the trend of this Bitcoin indicator over the past couple of years.<\/p>\n

\"Bitcoin
The value of the metric appears to have been negative in recent weeks | Source: @woonomic on X<\/a><\/figcaption><\/figure>\n

The above graph shows that the Bitcoin VWAP Oscillator has been in negative territory for the past couple of months. However, the metric’s value has been rising recently, so if it continues on this trajectory, it might approach the neutral mark shortly.<\/p>\n

In the chart, Woo has highlighted a trend that the indicator and the cryptocurrency’s price have historically shown. It seems that whenever the metric has formed a bottom in negative territory and rebounded back to the upside, the asset has enjoyed some bullish momentum<\/a>.<\/p>\n

The resulting price surge may last until the indicator reverses into the positive territory and forms a top. That hasn’t happened for the VWAP Oscillator this time yet. “Still a lot of room to run before reversal or consolidation,” says the analyst. “Hate to be a trapped Bitcoin bear right now.”<\/p>\n

Related Reading: Bitcoin Not Out Of Danger Yet, NVT Golden Cross Warns<\/a><\/div>\n

In other news, as CryptoQuant author Axel Adler Jr. pointed out in an X post<\/a>, retail investors have bought $135.7 million worth of the asset over the past month.<\/p>\n

\"Bitcoin
The value of the metric appears to have spiked recently | Source: @AxelAdlerJr on X<\/a><\/figcaption><\/figure>\n

BTC Price<\/h2>\n

At the time of writing, Bitcoin is floating around $65,000, up 5% over the last week.<\/p>\n

\"Bitcoin
The price of the asset seems to have shot up over the last day | Source: BTCUSD on TradingView<\/a><\/figcaption><\/figure>\n
Featured image from Shutterstock.com, woocharts.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

An analyst has explained how the data of an oscillator for Bitcoin could suggest the cryptocurrency still has plenty of room to run in this rally. Bitcoin VWAP Oscillator Could Imply Potential For Further Upside In a new post on X, analyst Willy Woo discussed what the latest trend in the Volume-Weighted Average Price (VWAP) Oscillator for BTC might suggest regarding what could be next for the cryptocurrency. The VWAP is an indicator that calculates the average price for any asset by taking into account the price fluctuations themselves and weighing the values against the trading volume. Related Reading: XRP & Cardano Whales Load Up Bags: Preparation For Altcoin Rally? This means that the prices of the assets where there was a higher volume of trading have a higher weightage in the average than those with only a low amount of volume. Traditionally, the VWAP is a technical analysis indicator that considers the information available through spot exchanges. In the context of the current topic, the VWAP uses the on-chain volume of Bitcoin instead, which is readily viewable by anyone thanks to the blockchain’s transparency. The indicator of interest here isn’t the VWAP but rather the VWAP Oscillator, as mentioned earlier. This metric keeps track of the ratio between the BTC spot price and the VWAP and presents it as an oscillator of around zero. The chart below shows the trend of this Bitcoin indicator over the past couple of years. The above graph shows that the Bitcoin VWAP Oscillator has been in negative territory for the past couple of months. However, the metric’s value has been rising recently, so if it continues on this trajectory, it might approach the neutral mark shortly. In the chart, Woo has highlighted a trend that the indicator and the cryptocurrency’s price have historically shown. It seems that whenever the metric has formed a bottom in negative territory and rebounded back to the upside, the asset has enjoyed some bullish momentum. The resulting price surge may last until the indicator reverses into the positive territory and forms a top. That hasn’t happened for the VWAP Oscillator this time yet. “Still a lot of room to run before reversal or consolidation,” says the analyst. “Hate to be a trapped Bitcoin bear right now.” Related Reading: Bitcoin Not Out Of Danger Yet, NVT Golden Cross Warns In other news, as CryptoQuant author Axel Adler Jr. pointed out in an X post, retail investors have bought $135.7 million worth of the asset over the past month. BTC Price At the time of writing, Bitcoin is floating around $65,000, up 5% over the last week. Featured image from Shutterstock.com, woocharts.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":608476,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,11434,679,6481,89956,92312,92228,92229,1119,1144],"class_list":["post-608455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-analyst","tag-bitcoin-price","tag-bitcoin-rally","tag-bitcoin-reversal","tag-bitcoin-run","tag-bitcoin-vwap","tag-bitcoin-vwap-oscillator","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Still Has "A Lot Of Room To Run Before Reversal," Says Top Analyst<\/title>\n<meta name=\"description\" content=\"An analyst has explained how the data of a Bitcoin oscillator could suggest the cryptocurrency still has plenty of 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/shenyangcang.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Still Has “A Lot Of Room To Run Before Reversal,” Says Top Analyst","url":"http:\/\/shenyangcang.com\/news\/bitcoin-room-run-before-reversal-analyst\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/news\/bitcoin-room-run-before-reversal-analyst\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/05\/shutterstock_651598474.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/05\/shutterstock_651598474.jpg?fit=6016%2C4016"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin analyst","bitcoin price","bitcoin rally","bitcoin reversal","bitcoin run","bitcoin vwap","bitcoin vwap oscillator","btc","btcusd"],"dateCreated":"2024-05-17T04:00:57Z","datePublished":"2024-05-17T04:00:57Z","dateModified":"2024-06-11T08:21:50Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Still Has “A Lot Of Room To Run Before Reversal,” Says Top Analyst\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/bitcoin-room-run-before-reversal-analyst\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/bitcoin-room-run-before-reversal-analyst\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/shutterstock_651598474.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/shutterstock_651598474.jpg?fit=6016%2C4016\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin analyst\",\"bitcoin price\",\"bitcoin rally\",\"bitcoin reversal\",\"bitcoin run\",\"bitcoin vwap\",\"bitcoin vwap oscillator\",\"btc\",\"btcusd\"],\"dateCreated\":\"2024-05-17T04:00:57Z\",\"datePublished\":\"2024-05-17T04:00:57Z\",\"dateModified\":\"2024-06-11T08:21:50Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/05\/shutterstock_651598474.jpg?fit=6016%2C4016","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/608455"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=608455"}],"version-history":[{"count":0,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/608455\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/608476"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=608455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=608455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=608455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}