Bitcoin is bullish on all major long term timeframes. I'm basically holding my long and I probably will keep on adding more. Areas of interest are marked on the chart.
Short term, there is lots of supply at this area so price should be delayed a bit. However, overall demand is high and will drive price up further. The shorters here will be fuel for the next rally.
I'm long.
Short term, there is lots of supply at this area so price should be delayed a bit. However, overall demand is high and will drive price up further. The shorters here will be fuel for the next rally.
I'm long.
Note
Just a note, if price goes beyond both zones, I'll probably post a new idea.Trade active
Note
For a very bullish scenario, price should stay far away from this area. The longer it consolidates above this area the better.
It's also very likely to be support. Bitmex data shows this.
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Related publications
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.