BITCOIN SUPPLY AND DEMAND

Updated

I have shown the supply and demand zones on the graph. At this point it remains to be seen how the price will react 43.6k$-44k$ . If we see acceptance, prices of 48K-50k are very possible. If we get a big rejection, it will be a trigger that the sellers are in advantage and we will have to look for strength in another zone (demand zone).

Right now it's late to trade (long), so it's better to be patient and wait to see the reaction. I always go against the majority, and so far the sentiment is very positive. Big volume on sale and I think that in this in-between zone (where there is no trading) everyone will lose.

Closing the week above 43.6k will be a very good indicator for continuation.

I'm definitely of the opinion that bitcoin has done most of its work, it's time for ETH and I think 2024 is its year

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One look if the zone gives way

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Second look if it doesn't hold

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Start thinking like big money, we will see will they miss this opportunity

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just like that

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if the price reaches 42k, put the entry at break-even, if it declines, we will probably attack the liquidity at 40400

Trade active

3/4 out, waiting for 40400 and entry at break-even

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we need to see atleast 2-3 daily candle above 44.400

learnfromfailure

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