Still reasonable supply left in BTC/USDT (Binance)

After possible sign of selling climax, you can see that supply is still high. I'm watching if it finds support at the orange line (possible falling wedge pattern). If not, watch for the lower support/oversold line (the dashed white one). Any move below this line, I'm a buyer for a short term rally. I'm not expecting a massive rally without proper accumulation at lower prices.

تعليق:

Falling wedge pattern working out so far. Huge volume near the lower line, similar to previous spike in volume. I expect a rally to at least 9,000 then a retest of low. Watch volume for indication of bottoming or if there is more supply left.

تعليق:

Up-thrust with low volume (no demand candlestick) at resistance line 2 days ago. Expecting a move to the orange dotted line. If volumes is low and if it doesn't break previous low I would comfortable use the reserved money to buy at those levels. If it breaks below previous line, then the white dashed line might be a good buy opportunity.