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Author: Scott Matherson

Bitcoin Raging Bull Indicator Turns Back On, But This Level Holds The Key

Bitcoin continues to show signs of resilience at the $95,000 region, pushing higher from recent lows and attempting to reclaim its bullish structure after a volatile April. The monthly candlestick for April on the CME Futures chart currently presents a strong bullish engulfing formation, which, if sustained into the weekly close, could provide the market with bullish momentum to close May with another bullish candle. The potential of this bullish close is enough to sway the sentiment among bearish proponents, according to crypto analyst Tony “The Bull” Severino. Raging Bull Tool Flashes Signal On CME Futures Bitcoin’s price action over the past two weeks has been positive and has seen an otherwise waning bullish sentiment slowly creeping back among crypto traders. Interestingly, this price action has even seen Bitcoin’s net taker volume turn positive for the first time in a while. Although the trend is still in its early stages, the renewed strength is already beginning to soften some of the more bearish outlooks, especially as key indicators start to turn. Related Reading: Bitcoin Price Confirms Breakout To $106,000 As Technicals Align Tony The Bull Severino, a well-followed crypto analyst, recently revealed on social media platform X that his proprietary Raging Bull indicator has turned back on. However, this indicator has turned back on only on the Bitcoin CME Futures chart, not the spot BTC/USD chart. The divergence between CME Futures and the spot chart, with only the former flashing this bullish signal, has added complexity to Bitcoins current outlook. The Raging Bull tool, which uses weekly price data, is designed to identify early stages of powerful upward movements. According to Severino, the appearance of this signal, despite his bearish stance, suggests a meaningful shift in market structure may be developing. However, he was quick to add that a confirmed weekly close is still necessary before any firm conclusions can be drawn. Breaking Above This Level Is Key Examining the monthly chart shared by the analyst, the bullish engulfing candlestick is clearly visible following a sharp rebound from Aprils lows below $83,000. Bitcoin began the month of April at around $83,000, but a swift downturn in the first few days pushed the price downward until it bottomed out at around $75,000. However, the current April candle not only erases Marchs losses but also indicates increased interest in Bitcoin from institutional traders on the CME platform. Related Reading: Bitcoin Price Following Analysts Prediction For Bullish Breakout, Heres The Target Still, despite the encouraging candlestick formation, Bitcoin must decisively break above the $96,000 to $100,000 region, where previous uptrends have stalled. This level is acting as a ceiling that could determine whether the recent bullish momentum continues or stalls. A failure to close above this range, either on the weekly or monthly timeframe, could invalidate the Raging Bull signal. Additionally, the Raging Bull indicator needs to turn back on the spot BTCUSD chart to confirm a strong bullish outlook. This can only be done if Bitcoin manages to break substantially above $96,000. At the time of writing, Bitcoin is trading at $94,934. Featured image from Pixabay, chart from Tradingview.com

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Bitcoin Back Above $70,000 Despite Negative Taker Volume

Author: Keshav Verma

United Kingdom

Source: NewsBTC

Apr 12, 2024 12:05

Bitcoin Back Above $70,000 Despite Negative Taker Volume

Bitcoin has surged back above the $70,000 level during the past day despite the negative Net Taker Volume for the asset. Bitcoin Net Taker Volume Has Seen Some Large Negative Spikes Recently As explained by CryptoQuant Netherlands community manager Maartunn in a post on X, selling spikes of a significantly heavier scale than before have recently appeared in the Bitcoin Net Taker Volume. Related Reading: Bitcoin 2 Months Through Euphoria Wave, How Long Was The Last One? The “Net Taker Volume” is an indicator that keeps track of the difference between the Bitcoin taker buy and taker sell volumes in perpetual swaps. How can the sell and buy volumes be different? As CryptoQuant explains in its data guide: This concept is often confusing because every trade requires both a buyer and a seller of the given underlying asset. However, depending on whether the order taker is a buyer or seller (whether a transaction occurs at the ask price or the bid price), you can distinguish between long volume from taker seller volume. When the value of this metric is positive, it means that the taker buy volume is overwhelming the taker sell volume right now. Such a trend implies a bullish sentiment is shared by the majority. On the other hand, the negative indicator suggests that more sellers are willing to sell the coin at a lower price, a sign that a bearish mentality is the dominant one. Now, here is a chart that shows the trend in the Bitcoin Net Taker Volume over the past year: The value of the metric seems to have been quite red in recent days | Source: @JA_Maartun on X As the above graph shows, the Bitcoin Net Taker Volume has recently registered a sharp negative spike, implying that the taker sell volume has been higher than the taker buy volume. The Net Taker Volume has been seeing some large red spikes for a while, as the analyst highlighted in the chart. “Bitcoin is being hammered down massively, with selling spikes on the Net Taker Volume significantly heavier than before,” says Maartunn. Interestingly, despite this bearish sentiment in the market, the Bitcoin price has managed to hold up relatively well. Obviously, the coin’s bullish momentum has gone while these negative Net Taker Volume spikes have taken hold, but the fact that BTC has shown strength against any sustained drawdowns is still impressive. Related Reading: Dogecoin Slows Down: What Needs To Happen For New DOGE Highs? A pattern that’s perhaps visible in the chart is that although the Net Taker Volume has continued to see red spikes recently, their scale has gradually decreased. Thus, if this trend continues, it’s possible that the bearish mentality will eventually run out, and buying pressure will take over Bitcoin. It now remains to be seen how the indicator develops shortly. BTC Price Bitcoin declined below $68,000 just yesterday, but today, the asset has already bounced back and is now trading around $70,800. Looks like the price of the coin has made some recovery over the past 24 hours | Source: BTCUSD on TradingView Featured image from Jievani Weerasinghe on Unsplash.com, CryptoQuant.com, chart from TradingView.com

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Ethereum Net Taker Volume Signals Huge Selling Pressure Can Bulls Hold Key Levels?

Author: Sebastian Villafuerte

United Kingdom

Source: NewsBTC

Mar 14, 2025 12:05

Ethereum Net Taker Volume Signals Huge Selling Pressure Can Bulls Hold Key Levels?

Ethereum (ETH) is facing significant selling pressure, trading below the $1,900 mark as market uncertainty continues to weigh on price action. After losing the critical $2,000 level, ETH plunged as low as $1,750, marking its lowest point since October 2023. Bulls are now under pressure, as they must defend the current demand zone to prevent further downside and restore investor confidence. Related Reading: Bitcoin Lost And Retested The 200-Day MA As Resistance Heres What Happened Last Time Market conditions remain fragile, with Ethereum struggling to find strong buying interest. If bulls fail to hold current support levels, ETH could see further declines, adding to the bearish sentiment that has dominated the market in recent weeks. On-chain data from CryptoQuant reveals that Ethereums Net Taker Volume remains at a low level, indicating that selling pressure is still strong. This suggests that market participants are leaning bearish, with more sell orders than buy orders dominating Ethereums price action. With ETH trading in a vulnerable position, the next few days will be crucial. If bulls can stabilize the price and push ETH back above $1,900, a potential recovery could begin. However, if selling pressure persists, Ethereum may continue its downward trend, testing lower support levels in the coming weeks. Ethereum Faces Heavy Selling Pressure Ethereum has lost over 57% of its value, creating an extremely difficult environment for bulls as the market remains in a deep downtrend. Currently, ETH is trading below a multi-year support level, which has now turned into a strong resistance zone. As ETH struggles to break back above the $1,900$2,000 range, the bearish trend continues, with bulls failing to regain momentum. Related Reading: New ONDO Addresses Surge 390% In 24 Hours A Sign Of Growing Interest In Ondo Finance The entire crypto market has suffered a breakdown, mirroring weakness in the U.S. stock market, as global trade war fears and growing uncertainty surrounding U.S. President Trumps policies shake investor confidence. Since the U.S. elections in November 2024, macroeconomic volatility and uncertainty have been the dominant forces in driving markets lower. With no clear resolution in sight, investors remain cautious, as the U.S. stock market has now reached its lowest levels since September 2024. Top analyst Quinten Francois shared data on X, revealing that Ethereums Net Taker Volume is at historic lows, signaling intense selling pressure. This indicates that sellers continue to dominate the market, preventing ETH from staging any meaningful recovery. Until buyers step in with strong demand, ETH may remain stuck in a bearish phase, with further downside risk if key support levels fail. With Ethereum struggling below critical resistance and selling pressure increasing, the next few weeks will be pivotal in determining whether ETH can stabilize or if the market will see further losses. If bulls cannot reclaim lost ground, Ethereum could face even deeper corrections in the near term. ETH Stuck In Range As Bulls Fight to Reclaim $2,000 Ethereum is currently trading at $1,880, remaining range-bound between $1,750 and $1,950 since last Monday. This tight trading range has kept ETH in a consolidation phase, with neither bulls nor bears gaining full control over price action. For Ethereum to start a recovery rally, bulls must push the price back above $2,000 as soon as possible. A break and close above this psychological level would indicate renewed buying momentum, allowing ETH to potentially test higher resistance levels. However, Ethereum remains in a fragile position, as selling pressure continues to weigh on the market. If ETH fails to hold its current levels and breaks below $1,750, it could result in a steady continuation of the downtrend, with further downside risks emerging. Bears would likely target lower support zones, extending the bearish phase and delaying any chance of a sustained recovery. Related Reading: Bitcoin Drops Below 200-Day MA Next Key Support Lies At $66K According To Mayer Multiple With uncertainty still dominating the market, traders are closely watching whether Ethereum can break out of this range or if it will extend its decline, following the broader markets risk-off sentiment. The next few trading sessions will be critical for ETHs short-term direction. Featured image from Dall-E, chart from TradingView

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