Cryptocurrency expert Willy Woo thinks that Bitcoin will go up a lot because there are signs that investors are willing to buy at higher prices.
Woo recently said in a post on X (formerly Twitter) that Bitcoin has a lot of room to grow before it might reverse course or become more stable. He backed up his positive view with a chart showing Bitcoin’s Volume-Weighted Average Price (VWAP), which shows that the market is mostly optimistic. “I would hate to be a trapped Bitcoin bear right now,” Woo said.
Bitcoin’s VWAP Surges, Woo Bullish
The VWAP, which looks at BTC average price over a certain period while considering the number of trades at each price level, is currently increasing. In another post, Woo talked about BTC bullish potential even more, pointing out that it is still in the early stages of its liquidity cycle and is doing “warm-up exercises.” He said BTC long-term risk signal is still low because it stabilizes below its all-time highs. This means the best is yet to come when the “floodgates open.”
Woo also said that the wave of people selling their BTC to take profits after it hit a new all-time high in March seems to be over, making way for the next growth phase. He made this official by giving an update on BTC Spent Output Profit Ratio (SOPR), which showed a “very healthy reset” as more money entered the network.
Crypto expert Crypto Jebb found an inverse head and shoulders pattern on Bitcoin’s chart, which backed up Woo’s bullish view. He said it could push the price to $100,000. He also talked about some other signs that the market is going up, like the Moving Average Convergence/Divergence (MACD) on the daily chart, which shows that the bulls are taking back control. Crypto Jebb also says that a “green, red, green” shape on the daily chart shows that Bitcoin is doing well.
