BTC Sellers Hit Supply Short Positions Taken
So here you go. As mentioned earlier, refer to post dated 7/4/18, when price hits a supply area sellers will take control and if successful price will again decline. And that is what happened here. Remember supply zones represent sellers and demand zones represent the buyers. For those who took the trade in the supply zone and went short, you have done well thus far. How long do you stay short? The rule is until you hit the next buying zone. Be careful here because price will often break through those buying zones and continue it's trek down and the same is true for supply zones just the opposite direction. Be aware that at some point price will address the supply area marked "your July rally" on the chart. The ability to identify this type of supply and demand zone will give you an excellent visual edge on market direction because only two things will happen when price either meets supply or demand and that is price will either break through these zones and continue on or when supply and demand zones are met and if successful, sellers will take short positions and buyers will take long positions. For now look for price to continue downward to target 1 as this will be a possible buying area. I will do an updated chart soon. Keep in mind the overall direction of the market remains bearish. There will come a time when that will change, but for now and I repeat, the market remains bearish and at coming lower prices, therein lies your greatest opportunity,
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