BitCoin cryptocurrency has not pulled back to the strong imbalance shared with you a few months ago. Everyone is talking about Bitcoin, even my 87 years old mother asked me the other day what BitCoin was because she was hearing about it on the news all the time. If such an old person, unrelated to the crypto world, is suddenly interested in knowing what BitCoin is, we’ve got a problem. It’s telling us NOT to buy BitCoin or any crypto currency long-term.
What I just said is far from being a technical analysis, even less a fundamental analysis on BitCoin. However, this thinking process is so simple that nobody stops to think about the consequences of such a statement. When someone unrelated and unexposed to the financial market, with no interest at all in cryptocurrencies or BitCoin, asks about it… Do not buy! It’s a very simple rule 🙂
Let’s talk about BitCoin technical analysis and prediction for 2021. Pools of supply and demand imbalances are created in all BitCoin timeframes, you must know what these imbalances look like and what they mean before you decide to take a trade on BitCoin. Find below a long term analysis of BitCoin cryptocurrency using the monthly timeframe. Buying this crypto is not a good idea, we are waiting for a much bigger correction on the monthly timeframe this year 202. Intraday and shorter-term crypto traders could think of shorts on the way down to the strong imbalance located around $12.500.
There was a similar analysis done on Bitcoin a few months ago. That BitCoin cryptocurrency analysis showed a very strong imbalance to which it has not pulled back.
Many cryptocurrency intraday traders may have realized that BitCoin has been moving erratically for the last few weeks. It has nothing to do with ghosts trading in the background or cryptocurrency miners, it’s just how cryptocurrencies move and how the financial market behaves after a strong movement. Why is it that BitCoin cryptocurrency is dropping so strongly? Is there any need of supply and demand trading strategy?
Right now we are waiting for the retracement to the strong monthly demand imbalance being created around $12,500. We are patiently waiting for BitCoin BTCUSD to be cheaper before we buy this cryptocurrency. It’s too expensive to buy this cryptocurrency right now. Previous monthly imbalances analyzed in older BitCoin cryptocurrency analysis have played out nicely for months.
Pools of supply and demand imbalances are created in all BitCoin timeframes, you must know what these imbalances look like and what they mean before you decide to take a trade on BitCoin. The BitCoin technical analysis video below is doing a long term analysis of the monthly timeframe, intraday and shorter-term positions are not explained, those are different monsters.
Our supply and demand forecast and prediction for BitCoin crypto currency is explained in this analysis and also in the video technical analysis below. If you are a short term trader or scalping BitCoin for profit then it’s a different story and analysis.
If you want to learn how to trade BitCoin and other Crypto Currencies using our proprietary supply and demand strategy, join our supply and demand trading course. You will be welcome to join our trading community.
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