Never seen so many massive bid walls filled, 50 million dollar wall also made an appearance.
Sells were panic sells. Now that the weak bulls have sold (weak hands), is there still supply left? There will be constant selling pressure from miners but if institutions are still interested then miners will sell the bottom like last time. Source: cryptoquant data
Demand > Supply at ~30k levels.
Demand is massive at sub 30k. Even after that dump not all the bids were even tested, massive 50 mill front ran.
This is where my ideal entry is
Sells were panic sells. Now that the weak bulls have sold (weak hands), is there still supply left? There will be constant selling pressure from miners but if institutions are still interested then miners will sell the bottom like last time. Source: cryptoquant data
Demand > Supply at ~30k levels.
Demand is massive at sub 30k. Even after that dump not all the bids were even tested, massive 50 mill front ran.
This is where my ideal entry is
Comment:
Just a note, this does not mean buy right now. I am already long and that's why I'm posting bullish propaganda. Idea entry if I were to trade this is 31000.
Comment:
UP ONLY
UP ONLY
