Bitcoin (BTC) may experience a significant price surge, according to on-chain analyst Willy Woo. With over 1.1 million followers on the social media platform X, Woo suggests that the leading cryptocurrency is exhibiting a bullish divergence on its volume-weighted average price (VWAP) oscillator chart, indicating potential for further upward movement. Woo believes that this setup could propel BTC to “escape velocity,” implying a significant price increase.

VWAP is a metric that calculates the average traded price of an asset by considering both volume and price. Traders rely on the VWAP to determine whether an asset is being traded at undervalued or overvalued levels based on its intraday price action. Woo explains that the VWAP oscillator he is using incorporates on-chain volume instead of exchange-reported volume. By focusing on investor movements and excluding short-term speculation, this indicator provides a clearer signal of market sentiment.

Woo’s analysis suggests that the bullish divergence between the VWAP oscillator and Bitcoin’s value indicates a growing interest from investors to accumulate BTC, even as prices decline. A bullish divergence in technical analysis typically suggests a potential trend reversal.

In a previous prediction, Woo forecasted that Bitcoin would reach $1 million by 2035. He argued that there is a historical correlation between Bitcoin’s value and the number of BTC users, which he expects to continue increasing based on his growth curve model.

At the time of writing, Bitcoin is trading at $62,977, reflecting a nearly 5% increase over the past week.

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