Bitcoin is bullish. Possible areas of entry if you wish to long
Updated
Bitcoin is bullish on all major long term timeframes. I'm basically holding my long and I probably will keep on adding more. Areas of interest are marked on the chart.
Short term, there is lots of supply at this area so price should be delayed a bit. However, overall demand is high and will drive price up further. The shorters here will be fuel for the next rally.
I'm long.
Short term, there is lots of supply at this area so price should be delayed a bit. However, overall demand is high and will drive price up further. The shorters here will be fuel for the next rally.
I'm long.
Comment
Just a note, if price goes beyond both zones, I'll probably post a new idea.Trade active
Comment
For a very bullish scenario, price should stay far away from this area. The longer it consolidates above this area the better.
It's also very likely to be support. Bitmex data shows this.
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