BTC/USD – Key Levels for Swing/Long Terms Positions
The 5%ers' Blog > Trading Analysis
BTC/USD price has just created a new low for the past four weeks.
It seems the bearish momentum is still continuing and the price tends to reach the fresh demand below at $7500.00 zones.
In the H4 chart, we can see how the price compressed down toward the demand below.
This demand is one of the key levels and a great level for a long term buy position,
we can see how the price jump from this demand up to $10.300 zones in about 10 hours, and how long it take the price to get back there.
The long term target for this buy position will be at a price of $10.000 zones.
In the H1 chart, we can see that the price formed a fresh supply above which can be a great level for a sell position.
I’ll sell at this supply, but only if the price didn’t reach the demand below before.
as long as the price didn’t touch the demand below the supply above is still valid.
The target for this sell position will be the demand below.
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