Bitcoin BTC price forecast is bearish on the weekly and monthly timeframes. A strong weekly demand level took control, sitting around $19,800, which will help bitcoin rally much higher up to the supply imbalance of around $28,000. This is helping intraday crypto traders to take longs.
Watch the BitCoin video analysis below. Bitcoin price today is bullish.
As supply and demand traders, we do not need to pay attention to the DeFi news or fundamental analysis. Unless you are doing very short-term trading and scalping, you should not worry about fundamentals for cryptocurrencies.
Trading is just waiting for the right trigger points and scenarios to present themselves, this game has a name, and it’s called the waiting game. We must patiently wait for the correct scenarios and setups to happen and for the price to pull back or dip into the price levels we want to trade. These price levels are made of supply and demand imbalances in our case. You can use these imbalances to plan your trades in lower timeframes.
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