Have you been wondering when to buy BitCoin in 2020? If you are trading crypto currencies using a crypto currency trading strategy, you may have been surprised that your recent sell orders may have been a loss.
Many intraday traders may have woken up this morning to see that the stop loss in their sell orders have been triggered and they are out in a loss. Why is it that BitCoin crypto currency is rallying so strongly and triggering sell order stop losses?
If you were looking at BitCoin crypto currency wearing supply and demand glasses, you would have noticed there was a huge impulse that become an imbalance 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.
You can see an updated BitCoin crypto currency supply and demand analysis 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 was thinking that BitCoin was dropping further and look at what happened. A similar scenario is happening right now with BitCoin crypto currency reacting to monthly demand imbalance at #1 around $4.096.
I got many personal messages telling me that my supply and demand analysis was not correct, that BitCoin would never reach $4.000 again, messages on my YouTube channel saying 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 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 trading course. 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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