Bitcoin Net Taker Volume Has Been Moving Towards Zero Line Recently
As pointed out by an analyst in a CryptoQuant , this kind of crossover has appeared four times during the past year or so. The “net taker volume” is an indicator that measures the difference between the taker buy and taker sell volumes in the market.This metric shouldn’t be confused with the taker buy/sell ratio, which, as its name already implies, tells us about the ratio between these two volumes, rather than their difference.
Looks like the 30-day MA value of the metric has been rising in recent days | Source:
As you can see in the above graph, the quant has marked the relevant points of the trend for the 30-day MA Bitcoin net taker volume, as well as the corresponding pattern that the price of the asset displayed.
It seems like whenever this indicator has crossed above the zero line from the negative zone, the value of the cryptocurrency has followed up with riding on some upwards momentum.In total, there were previously four instances of this pattern during the past year or so. In some of these occurrences, the bullish effect came with a bit of delay, with the most prominent example of this being the crossover that eventually lead to the current rally in the BTC price.
Recently, the 30-day MA Bitcoin taker net volume has been inside the negative zone, meaning that sell orders have dominated the market. However, in the last few days, the metric’s value has been rising, and it is now once again approaching the zero level. If the indicator continues on this trajectory, then a crossover into the positive zone can take place, which, if the past pattern is anything to go by, may have a constructive effect on the price.BTC Price
At the time of writing, Bitcoin is trading around $28,300, up 1% in the last week.BTC has sharply risen in the past day | Source: