BTCUSDT long position/finding supply and demand zone
BTC almost at a paramount pivotal price area
Key levels: 19500$, 12000$
19500$ is the perfect price for bitcoin to be bullish, price may push back to all time high if this level holds!
1. This price level has been a resistance twice but now is going to be a heavy support.
2. Many hedge funds have buy orders around 20k (shown by order books)
3. 20k area is a huge psychological number
4. 20k is also a huge psychological area where retail holders are more likely to buy at this cheap price.
Day trading this area would be very dangerous, hedge fund orders might push and sweep most retail trader's stop losses out of this trade.
Very good area to buy for HODLERS.
If next weekly candle closes below this area, then price may continue to drop to 12000$ where I believe is rock bottom.
Key levels: 19500$, 12000$
19500$ is the perfect price for bitcoin to be bullish, price may push back to all time high if this level holds!
1. This price level has been a resistance twice but now is going to be a heavy support.
2. Many hedge funds have buy orders around 20k (shown by order books)
3. 20k area is a huge psychological number
4. 20k is also a huge psychological area where retail holders are more likely to buy at this cheap price.
Day trading this area would be very dangerous, hedge fund orders might push and sweep most retail trader's stop losses out of this trade.
Very good area to buy for HODLERS.
If next weekly candle closes below this area, then price may continue to drop to 12000$ where I believe is rock bottom.
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