Price has breached the first major supply zone both off the daily and the H1.
We expect price to move to the next zone which is 20,000 which is our next key supply zone.
Price will definitely close above 17,000 with all the media hype ,more people will buy and invest in BTC causing a major rally in price.
So for now we look for buys only until 20,000 price level where we might see a very highly probable sell off by about 27th November.
For pattern traders , 20K mark is a possible double top from the monthly and daily looking left to 2017 highs.
For supply and demand traders, thats a key supply zone. For BTMM/smart money traders thats a key institutional level, especially on the round figures #20,000.
Leave a like and a comment if this was useful or sugest trade ideas you might want to see me drop in future.
We expect price to move to the next zone which is 20,000 which is our next key supply zone.
Price will definitely close above 17,000 with all the media hype ,more people will buy and invest in BTC causing a major rally in price.
So for now we look for buys only until 20,000 price level where we might see a very highly probable sell off by about 27th November.
For pattern traders , 20K mark is a possible double top from the monthly and daily looking left to 2017 highs.
For supply and demand traders, thats a key supply zone. For BTMM/smart money traders thats a key institutional level, especially on the round figures #20,000.
Leave a like and a comment if this was useful or sugest trade ideas you might want to see me drop in future.
Comment:
THE "PURPLE zone" is the "SUPPLY zone"