BTC Market Review - May 12, 2026
Sellers are strengthening locally, but the price hasn’t yet shown any significant decline. The upward structure remains intact despite the emergence of local resistance.
Table of contents
In this market review, we are not attempting to predict the future; our task is to state the facts we have at the current moment. We base our actions on these facts, not on our expectations and hopes.
Market Orders and Limit Orders
During the period under review, market orders are showing a localized downward shift in balance, with sell market orders becoming more prevalent. This is clearly visible in the delta histogram (orange rectangle) and indicates a localized increase in seller activity.
At the same time, limit orders are also showing a more pronounced predominance of sell orders (red rectangle). In the current range, these volumes act as additional resistance and hinder further growth.
Price change per unit volume
Despite the increase in selling, the effectiveness of volume remains biased in favor of buying and continues to increase: less volume is required to push the price up compared to downward pressure. This indicates a more effective buying activity.
Balance Index
The Balance Index has shifted into the normal range and is currently not showing a significant shift in either direction.
Price Dynamics
Market sell orders are beginning to become more pronounced, but the price is not declining accordingly, indicating their local ineffectiveness. At the same time, sell orders also predominate locally among limit orders, creating additional resistance. However, the current volume is not yet sufficient to develop a strong downward movement.
Summary:
According to Charles Dow’s theory, the local structure remains ascending: the previous low has not been broken, and the highs continue to be broken. The current price action indicates that the upward movement is continuing, despite the local strengthening of sellers.
What approach to implementing trading ideas do you use in practice?
Follow new insights in our telegram channel.
No need to invent complex schemes and look for the "grail". Use the Resonance platform tools.
Register via the link — get a bonus and start earning:
OKX | BingX | KuCoin.
Promo code TOPBLOG gives you a 10% discount on any Resonance tariff plan.
Recommended articles
