BTC at supply zone bear will take control

Jul 25, 2021

The Bitcoin price is above 0.38 Fib and Resistance 2. Now we can see on the chart that the strong supply zone is next to the current price. There are also two strong levels of resistance: 0.5 Fib ($35000) and 0.61 Fib ($36500). While the price is below it I'm still bearish on Bitcoin. Now it is nice opportunity to execute a short trade with the stop-loss above the supply zone.