According to Foresight News, Willy Woo has tweeted that the cumulative volume delta (CVD) of Bitcoin transactions has reached its peak, indicating a forthcoming rise. However, a proper bullish environment will still take several weeks. The impending Bitcoin halving and the longer Bitcoin hovers near its historical high prices, the more coins are exchanged among investors. This could form a long-term support once a breakthrough occurs. If liquidated at a lower price, breaking the support of $59,000, a bear market could ensue.
Foresight News notes that the Cumulative Volume Delta (CVD) is a technical analysis tool primarily used in trading markets, including cryptocurrencies. It measures and tracks the cumulative difference between buying and selling volumes in the long-term market.
