In this chart,
We have identified the nearest demand to be at $569B.
We are also approaching a key level where we previously broke through it and we haven't tested it yet at $692B where we might potentially see some buying pressure as well.
But, ideally, price tends to get to supply/demand zones.
In this case, we are nearing a demand zone at $569B which would be a 30% drop from the current price as of this writing.
While a potential drop up to 80% is also possible since it is one of the strong support level where we were able to hold that price at around $140B.
I am expecting more bearishness going to 2023.
Happy New Year 2023 everyone!
We have identified the nearest demand to be at $569B.
We are also approaching a key level where we previously broke through it and we haven't tested it yet at $692B where we might potentially see some buying pressure as well.
But, ideally, price tends to get to supply/demand zones.
In this case, we are nearing a demand zone at $569B which would be a 30% drop from the current price as of this writing.
While a potential drop up to 80% is also possible since it is one of the strong support level where we were able to hold that price at around $140B.
I am expecting more bearishness going to 2023.
Happy New Year 2023 everyone!
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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.
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.