BitCoin cryptocurrency has not returned to the strong imbalance shared with you a few months ago. Everyone is talking about Bitcoin; even my 87-year-old mother asked me the other day what BitCoin was because she always heard about it on the news. 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 cryptocurrency long-term.
What I just said is far from a technical analysis, even less a fundamental analysis of 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 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 in the monthly timeframe this year, 2021. 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. BitCoin cryptocurrency analysis showed a very strong imbalance 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 cryptocurrency is explained in this analysis and the technical video analysis below. If you are a short-term trader or scalping BitCoin for profit, then it’s a different story and analysis.
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