BTC looks like it's on an upswing, but look at all the untouched supply zones it will be facing on the way back up - there will be lots of buyers who held and will be taking profits. Expect lots of consolidations, fake-outs, and retracements. Looks to buy when it forms new demand zones.
Trade active
We are cautiously long and will look to accumulate more once it breaches the supply zone around 1700.Order cancelled
BTC reversed around 17000 - supply zone was an active indicator of selling pressure in the market. We are going to be looking for opportunities to go long in another chart.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.