Good day Traders, I hope you are all doing well same as here.
This is my overall view on BTC( cryptocurrency)
Why did I come up with this crazy idea?
My first reason for this analysis is that if you observe the weekly market structure it has been broken and if we are to continue the bull run I don't think it's good for that
SO, on a weekly analysis, BTC might pull back to that my (red)supply zone(2) to get the people to hope up.
What's my logic?
If BTC should come down to the green line(1) which is demand. it will really good for smart money to buy low and when BTC is about to reach the supply zone people will be fear of missing out and expecting BTC to make an All-time High like it did in the past and it will really good to distribute it in that area. so after the distribution, OUR previous demand(green) would have been clear to people as a demand zone so they won't be scared to buy in that area. Like now. Another opportunity to go bellow 29K.
This analysis is likely to correct if the smart money thinks in my perspective, so I will love to hear your opinion in the comment section
This is my overall view on BTC( cryptocurrency)
Why did I come up with this crazy idea?
My first reason for this analysis is that if you observe the weekly market structure it has been broken and if we are to continue the bull run I don't think it's good for that
SO, on a weekly analysis, BTC might pull back to that my (red)supply zone(2) to get the people to hope up.
What's my logic?
If BTC should come down to the green line(1) which is demand. it will really good for smart money to buy low and when BTC is about to reach the supply zone people will be fear of missing out and expecting BTC to make an All-time High like it did in the past and it will really good to distribute it in that area. so after the distribution, OUR previous demand(green) would have been clear to people as a demand zone so they won't be scared to buy in that area. Like now. Another opportunity to go bellow 29K.
This analysis is likely to correct if the smart money thinks in my perspective, so I will love to hear your opinion in the comment section
