Have you been wondering when to buy BitCoin in 2020? If you are trading cryptocurrencies using a cryptocurrency trading strategy, you may have been surprised that your recent sell orders may have been lost.
Many intraday traders may have woken up this morning to see that the stop loss in their sell orders has been triggered and are out in a loss. Why is BitCoin cryptocurrency rallying so strongly and triggering sell order stop losses?
If you were looking at BitCoin cryptocurrency wearing supply and demand glasses, you would have noticed a huge impulse that became an imbalance of around $4.096. We discussed this new imbalance in a previous BitCoin technical analysis last November 2019, go and check that analysis together with the YouTube video included in it.
An updated BitCoin cryptocurrency supply and demand analysis was done on the monthly timeframe right underneath. We can see how the last monthly demand imbalances around $4.734 at #2 played out nicely. Everyone thought that BitCoin was dropping further, and look at what happened. A similar scenario is happening right now with BitCoin cryptocurrency reacting to monthly demand imbalance at #1 around $4.096.
I got many personal messages telling me that my supply and demand analysis was incorrect and that BitCoin would never reach $4.000 again, and messages on my YouTube channel said similar things. Well, look at the monthly timeframe below and reach your own conclusions.
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 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.
Join our trading course if you want to learn how to trade BitCoin and other Crypto Currencies using our proprietary supply and demand strategy. You will be welcome to join our trading community.
Take a look at a previous Bitcoin analysis from last 25th November 2019, where we had a clear monthly demand imbalance following set-and-forget trading rules.
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