Many intraday traders may have woken up this morning to see that the stop loss in their sell orders have been triggered and they are out in a loss. Why is it that BitCoin crypto currency is rallying so strongly and triggering sell order stop losses?
If you were looking at BitCoin crypto currency wearing glasses, you would have noticed there was a huge impulse that become an imbalance around $4.096. We discussed this new imbalance in a previous BitCoin last November 2019, go and check that analysis together with the YouTube video included in it.
You can see an updated BitCoin crypto currency analysis done on the right underneath. We can see how the last monthly demand imbalances around $4.734 at #2 played out nicely. Everyone was thinking that BitCoin was dropping further and look at what happened. A similar scenario is happening right now with BitCoin crypto currency reacting to monthly demand imbalance at #1 around $4.096.
Pools of imbalances are created in all BitCoin timeframes, you must know what these imbalances look like and what they mean before you decide to take a trade on BitCoin . The BitCoin video below is doing a long term analysis of the , intraday and shorter term positions are not explained, those are different monsters.