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Towards microeconomics perspective for Bitcoin

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
According to phenomenal microeconomics perspective, there are significant supply zones which should be taken care of.
>>>> This could be an educational content. So, try to contemplate the chart meticulously. <<<<
In each consolidation band there is battle in between bulls and bears in the market, because we reach the equilibrium point in the supply-demand chart.
Bears try to savagely suppress the market by creating a supply zone above the market price. In other hand, bulls try to support the market by setting orders bellow the market price.
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by checking the news and on-chain metrics you could be able to found the amount of orders which lies in critical prices.
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Two of the most important tools are VPVR and VPSV HD.
In bitcoin we have two supply zone (you can see then on the chart)
- Bear supply zone: 40K-42K
- Bull supply zone: 31K-34K
Now we are in the bull supply zone . however, due to fear and greed index (now the index value is 13) there would not be buying pressure in the market.
Plus, the Elliott wave structure should be completed.
Take care.

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