{"id":608705,"date":"2024-05-18T08:57:23","date_gmt":"2024-05-18T08:57:23","guid":{"rendered":"https:\/\/wncen.com\/?p=608705"},"modified":"2024-05-18T08:57:52","modified_gmt":"2024-05-18T08:57:52","slug":"crypto-expert-willy-woo-predicts-bitcoin-has-room-to-run-here-are-the-drivers","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-expert-willy-woo-predicts-bitcoin-has-room-to-run-here-are-the-drivers\/","title":{"rendered":"Crypto Expert Willy Woo Predicts Bitcoin Has Room To Run – Here Are The Drivers"},"content":{"rendered":"

Crypto expert Willy Woo<\/span><\/a> has predicted that Bitcoin will still make significant moves to the upside. He made this claim based on an indicator that suggests crypto investors are still willing to buy the <\/span>flagship crypto<\/span><\/a> at higher prices.\u00a0<\/span><\/p>\n

Related Reading: Filecoin On Fire: Analyst Torches Doubters With $15 Target<\/a><\/div>\n

Bitcoin Still Has \u201cA Lot Of Room To Run\u201d<\/b><\/h2>\n

Woo mentioned in an X (formerly Twitter) <\/span>post<\/span><\/a> that Bitcoin still has a lot of room to run before the flagship crypto experiences a reversal or consolidation. To support his bullish sentiment, he shared a chart highlighting Bitcoin <\/span>VWAP (Volume-Weighted Average Price)<\/span><\/a>. The crypto analyst further suggested that bulls were firmly in control, stating that he would hate to be a \u201ctrapped Bitcoin bear right now.\u201d<\/span><\/p>\n

\"\"<\/p>\n

The VWAP measures the <\/span>average price of Bitcoin<\/span><\/a> over a specific period and factors in the volume at each price level to determine the current sentiment in the market. The chart Woo shared showed that Bitcoin\u2019s VWAP was currently on an upward trajectory. In a subsequent <\/span>X post<\/span><\/a>, Woo highlighted Bitcoin\u2019s risk signal to further reinforce his bullish sentiment.\u00a0<\/span><\/p>\n

He noted that Bitcoin is still in the early stages in its liquidity cycle and is still doing \u201cwarm-up exercises.\u201d He added that Bitcoin\u2019s long-term frame risk signal is relatively low as it is still consolidating under all-time highs. He claimed that this risk \u201conly starts climbing after the floodgates open,\u201d meaning that the best is <\/span>yet to come for Bitcoin<\/span><\/a>.\u00a0<\/span><\/p>\n

Meanwhile, the wave of <\/span>profit-taking<\/span><\/a> by Bitcoin investors (since the crypto hit a <\/span>new all-time high<\/span><\/a> in March) looks to be done, which indicates that Bitcoin may be ready for its next leg up. <\/span><\/p>\n

Woo <\/span>confirmed<\/span><\/a> that profit-taking has been completed as he provided an update on Bitcoin\u2019s Spent Output Profit Ratio (SOPR).<\/span> He noted that Bitcoin is undergoing a \u201cvery healthy reset, against a backdrop of capital flows into the network climbing again.\u201d<\/span><\/p>\n

Bitcoin is now trading at $66.996. Chart: TradingView<\/a><\/figcaption><\/figure>\n

Other Bullish Indicators For Bitcoin<\/b><\/h2>\n

Crypto analyst Crypto Jebb <\/span>recently highlighted<\/span><\/a> an inverse heads and shoulders pattern that had formed on Bitcoin\u2019s chart. The analyst claimed this bullish pattern could send <\/span>Bitcoin\u2019s price to $100,000<\/span><\/a>. The analyst also noted several other indicators currently signaling a bullish outlook for Bitcoin.<\/span><\/p>\n

One is the <\/span>Moving Average Convergence\/Divergence (MACD)<\/span><\/a>, which he claimed had turned very bullish on the daily chart and indicated that the bulls were regaining control. He also highlighted a \u2018green red green\u2019 formation on the daily chart, which, according to Crypto Jebb, shows that Bitcoin is \u201cdoing very well.\u201d<\/span><\/p>\n

Related Reading: Crypto Alert: VeChain Bull Run Imminent, Expert Predicts 500% Rally<\/a><\/div>\n

Meanwhile, <\/span>crypto analyst Mikybull Crypto<\/span><\/a> highlighted<\/span><\/a> a striking similarity between Bitcoin\u2019s 2020 post-halving price action and its price action after this halving. From the chart he shared, Bitcoin looks to be at the point of takeoff if it continues to mirror the price action from 2020.\u00a0<\/span><\/p>\n

Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Crypto expert Willy Woo has predicted that Bitcoin will still make significant moves to the upside. He made this claim based on an indicator that suggests crypto investors are still willing to buy the flagship crypto at higher prices.\u00a0 Related Reading: Filecoin On Fire: Analyst Torches Doubters With $15 Target Bitcoin Still Has \u201cA Lot Of Room To Run\u201d Woo mentioned in an X (formerly Twitter) post that Bitcoin still has a lot of room to run before the flagship crypto experiences a reversal or consolidation. To support his bullish sentiment, he shared a chart highlighting Bitcoin VWAP (Volume-Weighted Average Price). The crypto analyst further suggested that bulls were firmly in control, stating that he would hate to be a \u201ctrapped Bitcoin bear right now.\u201d The VWAP measures the average price of Bitcoin over a specific period and factors in the volume at each price level to determine the current sentiment in the market. The chart Woo shared showed that Bitcoin\u2019s VWAP was currently on an upward trajectory. In a subsequent X post, Woo highlighted Bitcoin\u2019s risk signal to further reinforce his bullish sentiment.\u00a0 He noted that Bitcoin is still in the early stages in its liquidity cycle and is still doing \u201cwarm-up exercises.\u201d He added that Bitcoin\u2019s long-term frame risk signal is relatively low as it is still consolidating under all-time highs. He claimed that this risk \u201conly starts climbing after the floodgates open,\u201d meaning that the best is yet to come for Bitcoin.\u00a0 Meanwhile, the wave of profit-taking by Bitcoin investors (since the crypto hit a new all-time high in March) looks to be done, which indicates that Bitcoin may be ready for its next leg up. Woo confirmed that profit-taking has been completed as he provided an update on Bitcoin\u2019s Spent Output Profit Ratio (SOPR). He noted that Bitcoin is undergoing a \u201cvery healthy reset, against a backdrop of capital flows into the network climbing again.\u201d Other Bullish Indicators For Bitcoin Crypto analyst Crypto Jebb recently highlighted an inverse heads and shoulders pattern that had formed on Bitcoin\u2019s chart. The analyst claimed this bullish pattern could send Bitcoin\u2019s price to $100,000. The analyst also noted several other indicators currently signaling a bullish outlook for Bitcoin. One is the Moving Average Convergence\/Divergence (MACD), which he claimed had turned very bullish on the daily chart and indicated that the bulls were regaining control. He also highlighted a \u2018green red green\u2019 formation on the daily chart, which, according to Crypto Jebb, shows that Bitcoin is \u201cdoing very well.\u201d Related Reading: Crypto Alert: VeChain Bull Run Imminent, Expert Predicts 500% Rally Meanwhile, crypto analyst Mikybull Crypto highlighted a striking similarity between Bitcoin\u2019s 2020 post-halving price action and its price action after this halving. From the chart he shared, Bitcoin looks to be at the point of takeoff if it continues to mirror the price action from 2020.\u00a0 Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":594,"featured_media":608712,"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":[428,679,755,1119,1144,78790,14690,1558],"class_list":["post-608705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-bitcoin-technical-analysis","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto-news","tag-cryptocurrency"],"acf":[],"yoast_head":"\nCrypto Expert Willy Woo Predicts Bitcoin Has Room To Run<\/title>\n<meta name=\"description\" content=\"Crypto expert Willy Woo has predicted that Bitcoin will still make significant moves to the upside. 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