Bitcoin To Reach Escape Velocity? Analyst Makes The Case
Summary
Bitcoin's VWAP oscillator is showing a bullish divergence, indicating a potential upward trend. Analyst Willy Woo notes that the cryptocurrency's price has been heading down while the VWAP oscillator is rising, suggesting a favorable setup for Bitcoin to gain momentum. Additionally, Bitcoin whales have been buying at recent lows, but the scale of their buying has been diminishing, possibly indicating a decreasing appetite for purchasing. As of now, Bitcoin is trading at around $63,500, up over 1% in the last seven days.
