Here are my thoughts on BTCUSD. I have marked out some key supply & demand areas that I will keeping an eye on. Overall my theory is that BTC will remain under the 10k mark, and we may see some form of bull run when BTC halving comes into play - ETA 15th May 2020.
The first area that stands out to me is the 8000 level. You can see that price has fell hard at this level recently, I would expect price to come back up and revisit this area, before potentially dropping further (to the most recent demand zone 5265-5400 area). As an added confluence, there is a couple of EMA’s supporting this level (100/200 Daily EMA in particular)
I am not ruling out a revisit of the second demand zone (3850-4000 zone)
Should we break the 8000 level, I would pay close attention to the 9000-9200 area, as this is another supply zone where price could potentially fall.
If you trade Bitcoin often, you should know that it reacts quite violently to psychological numbers, 10,000 especially. This takes us to the region of our final supply zone, and this will determine whether Bitcoin will go up further, or collapse as it has done previously. Should we see a clear break of this area, we could see some new highs.
Once price break 7.1k level we won’t be looking at a big fall again, it will now have a slow move to 10k+ so it will likely not fall, it will break the range upward.
The Federal Reserve is now printing INFINITE Dollars with 0% interest. $USD will soon be WORTH LESS. The time has come to be your own bank fellas and look for gold or bitcoin instead, bitcoin has already started going up ( source - bitcoin-pris.se/ ) and there’s good profits if this trend keeps going.
For those of you who has alot of dollars time is of the essence, good luck!
Some key information and key levels great for understand and looking at movement. Currently sitting in nomans land and has been there for a while concerns me that it is still very undecided on the next move. personally i can see this dropping 5000/4500 mark hunting sl and pricing people out before we see a big move to the upside.
Instead of buying BTC, you can buy Sliver right now. The momentum of sliver will be very high so it will reach the top very fast compare to BTC. Both are +correlated. All the best.
Bitcoin: the trend once again failed to break through the upside, the market still maintained within the shock range mentioned in the morning. From the four-hour chart, the mid-rail suppression is slowly moving down, and the high is near the resistance area, but it has not broken up. . At present, the price has also retreated to near the 32500 position, and has failed to break below the key support of 32200 for many times. However, the rebound strength has gradually weakened. Therefore, we suggest that we still use empty orders in operation. Rebound short orders and focus on the 33100-31200 area, given the opportunity to consider entering the market, stop loss at 33350, and stop profit below 32600. If the follow-up short-term support of 31600 falls below, it is expected that this wave of rebound will also come to an end. Everyone still maintains the idea of empty orders, and the market is expected to move further towards the 31000 front line. I hope you will prepare in advance.
