80% Achieved! Bitcoin On-Chain Metric Excited!

It is a highly reliable product with an accuracy rate of 80% according to statistics, which is considered quite reliable by traders and investors. bitcoin The on-chain indicator is used for the ‘long-term’ state and ‘macro analysis’ of the market. However, many intraday traders and derivatives traders can also obtain the data they want from this indicator.

The indicator, also known as the “Taker buy Sell Ratio”, is one of the leading indicators that helps investors see the upcoming short-term market movements.

The indicator basically measures the ratio between short and long volume in the market. This simple indicator divided by ratios can give traders and investors a clue to the short-term volatile movements of the market.

Substantially; The metric clearly reflects the current intentions of derivatives traders. One of the main drawbacks is that the metric cannot predict an unexpected buy or sell volume increase. This represents an unexpected scenario that happens when big players are willing to buy or sell their holdings.

According to the indicator, currently the control of the market is in the ‘bulls’ and the price is in a position that could be forced further upwards. In addition to an increase during the day, it can be seen that the upward pressure continues.

Although the indicators offer relatively high accuracy, bitcoin price Since it has not been able to exceed the upper limit of the consolidation channel that has formed since May, the probability of not realizing the predicted price movement is also quite high.

Two days ago; Bitcoin has been unable to break the support line after growing fears in the market following increased regulatory pressure on Binance, which caused a massive drop in BNB.

At the time of writing, Bitcoin was trading at $30,429 and was returning to the lower end of the consolidation channel at $30,000. Ethereum and other altcoins were also losing about 5% of their value.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.


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