Happy new year to the POB/Leo tribe. Hopefully in 2022 this tribe will be even great.
I haven't made a post about analysis in a long time. What about the current bitcoin price? From my point of view, nothing too exciting for me at the current price. I don't want to buy bitcoins right now, but yeah I have made plans to buy bitcoins. If I look, the current price line is between the 49k red zone and the 40k green zone. Maybe bitcoin will do sideways until it can touch between one of those zones.
But if I look on supply and demand analysis, I'm pretty sure bitcoin will drop to 40k. What makes me believe that bitcoin will drop to 40k? Do you see the green zone that I marked with an arrow in the chart above. Usually in supply and demand if that zona has been broken then it will go down to a stronger zone below it, especially if that zone has SR.
Nah! my plan is when the price drops to the 40k zone I will buy bitcoin, I will put a stop loss at the 37k price or will do a stop loss if the green zone breaks. I will place take profit at 47k, because I see at 47k there is an SR that will make the price bounce. What if the price rises to the 49k red zone? Very simple, I will wait for the red zone to break to buy bitcoin. Btw I prefer small risks and big rewards, and I always care about money management. :)
