What’s up, everybody? I hope all of you are fine. Today after walked up and did my morning activities, I turned on my laptop I think it was around 7:30 am just like that.
When the window finished starting, I did not open anything on my laptop instead I open my brave browser and going direct to my tradview account, after that what I started to do is to review my trading pair one by one.
When it was coming time for analysing Bitcoin, I did not expect what I saw in the daily time frame.
Bitcoin is falling, of cause yes is falling more than I expected before. For investors who use the supply and demand zone or sometimes people calling these zone support and resistance areas you will understand what I was doing in that screenshot below;
To be harness bitcoin this week confusing me but this is because I expected too much, I believe that no matter what bitcoin won’t break that daily demand zone that I was drawing in that screenshot above.
I was used almost 30mins Today to analyse bitcoin trying to figuring out when it will stop falling and start to reverse. But I don’t know when and obvious nobody knows but only God knows (for God believer like me).
I think many bitcoin inventors now are facing a hard time especial those who bought bitcoin above the 45k. It will take months before turning back to its direction (bullish), now we have to be prepared for the bearish season.
When I continued to analyse bitcoin during the morning, I tried to convince myself by sporting another demand zone but this time I have drawn on a weekly time frame. See the screenshot below;
For now and then I put my attention on the weekly demand zone not on the daily zone like I did before. I will wait for all most weeks to get a nice weekly reversal candlestick pattern.
When a nice weekly pin bar or engulfing candlestick forms around that weekly demand zone, I will jump in without hastate because Bitcoin in weekly and monthly are still in a strong uptrend.
Final words.
If you any views. Ideas or anything about bitcoin price movement doesn’t close this post without leaving a comment.
Cheers, all HIVEers and wishing you a great week.