The Volume-Weighted Average Price (VWAP) oscillator is being considered by analyst Willy Woo as a potential signal that Bitcoin is entering a spike phase. The VWAP oscillator is a technical indicator that calculates the average price at which an asset has been traded by taking into account both the price and trading volume.

Woo believes that the divergence in the VWAP oscillator indicates that there is significant potential for the oscillator to move upward before a possible reversal may occur. This divergence serves as an indicator that Bitcoin could be on the verge of a bullish trend.

While Woo's analysis appears convincing, it is essential to recognize the unpredictable nature of the cryptocurrency market. Despite the current bullish divergence, there is a chance that the price of Bitcoin could decrease in the near future. When making investment decisions, it is crucial not to rely solely on technical indicators.

Bitcoin is currently priced at $ 63,774.66 at the time of writing, reflecting a 0.65% decline based on a one-day chart analysis.

Source: Coinmarketcap

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