Now the crypto market is bleeding and to analyze the current crypto market is a bit difficult. But yeah the last few days I saw bitcoin was trying to move its ass to 38k, is bitcoin go to 44k?
If I look with my strategy for bitcoin there are two possibilities. Bitcoin will go to 44k or bitcoin will go to 27k, what makes my view on bitcoin like that?
My experience in supply and demand. If the price has made an upward price movement, the price will look for the nearest zone above. So after touching the zone there are two possibilities that we need to see, if the price breaks the zone then the price will go to the zone above it again. And if the zone does not break, then the price will do pullback to the yellow zone on my chart. And we'll see if the zone is strong, the characteristics of a strong zone are never been touched before. If the zone is strong then usually the price will up again to the 44k zone.
What makes me say btc will go to 27k? Well in my view on supply and demand. If the zone has been touched several times, then if the price touches it again, the price will break the zone. For example, the yellow zone on my chart has been touched several times and if the price touches it again, usually the yellow zone will be broken. And the price will go to the 27k zone.
So what needs to be seen now is where the price will go, whether it will go to 44k or to 27k. We only need to see the price reaction when it hits the 44k and 27k zones.
Have I bought btc? for now have not bought btc, I'm looking the right signal to buy it. If the price goes to 44k I will wait for that zone to break to buy it. And if the price goes to the yellow color zone I will wait for that zone to break to buy btc at 27k. Actually trading is just waiting, for example waiting for entry, waiting for stop loss, waiting for take profit. xD