Bitcoin’s Bid and Ask Ratio Signals Bullish Momentum
- The Bitcoin bid and ask ratio has turned positive for the first time in months.
- This positive ratio indicates increased buy demand relative to sell supply in Bitcoin’s orderbook.
- Significant buy walls have emerged on major exchanges, showing genuine demand without spoofing.
- Traders are observing increased limit buy orders, driving upward price action through passive buying.
Trading Analysis
Trading Signal: BULLISH (Score: +7)
The positive bid and ask ratio indicates a strong buy demand, suggesting potential upward price movement for Bitcoin.
The shift in Bitcoin’s orderbook dynamics, with a positive bid and ask ratio, suggests a bullish outlook as genuine demand builds through passive buying strategies.
Source (3.2)https://cryptobriefing.com/bitcoin-bid-ask-ratio-turns-positive/?rand=59535
