BitcoinLong
Lots of untapped liquidity on Bitcoin, daily demand waiting
Updated
While everyone is expecting us to power up from here, I think that we will go a bit lower into our big daily demand zone which starts at around 7480.
As the wicks indicate, there is still untapped liquidity below is, with a lot of untapped liquidity above us. Picking up the liquidity below us will be essential to creating the momentum that is needed to actually go up.
If we get this momentum, we will be able to head into the daily supply, where untapped liquidity suggest buys were waiting before. Clearing this daily supply will clear us to head to the previous daily SR. If we manage to break it we'll set a new higher high.
In that scenario Bitcoin will have:
- A higher high
- A higher low
on all timeframes which is still healthy to ensure a continuation of the bullish momentum.
If we fall through the daily demand, I see us heading to 6500-6400. In that case, the 20,000$ Bitcoin won't happen again. Ever.
As the wicks indicate, there is still untapped liquidity below is, with a lot of untapped liquidity above us. Picking up the liquidity below us will be essential to creating the momentum that is needed to actually go up.
If we get this momentum, we will be able to head into the daily supply, where untapped liquidity suggest buys were waiting before. Clearing this daily supply will clear us to head to the previous daily SR. If we manage to break it we'll set a new higher high.
In that scenario Bitcoin will have:
- A higher high
- A higher low
on all timeframes which is still healthy to ensure a continuation of the bullish momentum.
If we fall through the daily demand, I see us heading to 6500-6400. In that case, the 20,000$ Bitcoin won't happen again. Ever.
Note
As I told a follower: I'm already long because I believe we were just going down to fill the gap. However, it's more likely we'll drop.Why I already longed? I'm dollar cost averaging my longs downward.
Note
Trump's travel ban will probably drag down bitcorn together with the dow.
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