Hello Dear Traders,
As u can see in chart i have marked a rectangle which defined equilibrium of market.
when previously btc dumped frm 40k area, it became fresh supply zone bt after few days btc broke this supply zone and pumped hard.
now btc is coming back to this supply zone bt now this supply zone will act as fresh demand zone for btc.
once we test 40k we will see strong buying pressure in btc.
Also in few hours we will have weekly and monthly closing which is very important event for entire crypto market.
weekly candle is closing strong bearish, will post analysis after closing
As u can see in chart i have marked a rectangle which defined equilibrium of market.
when previously btc dumped frm 40k area, it became fresh supply zone bt after few days btc broke this supply zone and pumped hard.
now btc is coming back to this supply zone bt now this supply zone will act as fresh demand zone for btc.
once we test 40k we will see strong buying pressure in btc.
Also in few hours we will have weekly and monthly closing which is very important event for entire crypto market.
weekly candle is closing strong bearish, will post analysis after closing
