The latest trend in the Bitcoin taker buy-sell ratio could suggest a bearish reversal may be coming soon for the cryptocurrency.
Bitcoin Taker Buy Sell Ratio 100-Day EMA Has Encountered Resistance
An analyst in a CryptoQuant Quicktake post explained that the asset may be heading towards a correction due to the taker buy-sell ratio coming across strong resistance. The “taker buy sell ratio” is an indicator that keeps track of the ratio between the Bitcoin taker buy and taker sell volumes.
When the value of this metric is greater than 1, it means that the taker buy or the long volume is greater than the sell volume right now. Such a trend implies that the majority shares a bullish sentiment as the investors are willing to pay a higher price for the asset.
On the other hand, values under the threshold suggest the dominance of a bearish mentality in the sector, as the selling pressure is greater than the current buying pressure.
Now, here is a chart that shows the trend in the 350-day
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