BitCoin cryptocurrency price forecast in 2020
11 Dec 2020
BitCoin cryptocurrency has not pulled back to the strong imbalance shared with you a few weeks ago. Instead, the cryptocurrency king has continued to rally and broken an all-time highs price levels above $20,000. Last 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 a 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 analyses have played out nicely for months.
How to buy BitCoin Cryptocurrency long-term forecast
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.
BitCoin cryptocurrency forecast and prediction 2020
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.
Join our supply and demand crypto trading course to learn how to use our supply and demand trading strategy.
Should I buy BitCoin BTCUSD cryptocurrency now?
Watch BitCoin cryptocurrency video forecast technical analysis below.
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