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 cryptocurrency 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.
Join our supply and demand trading course to learn how to trade BitCoin and other Crypto Currencies using our proprietary supply and demand strategy. You will be welcome to join our online trading community.
Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Set and Forget, its employees, or fellow members. Futures, options, and spot currency and stocks trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex and futures markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell spot Forex, cfd's, stocks or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.
High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in Forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.