Bitcoin — Supply and Demand

In this simple chart we can see that Bitcoin has two options, either demand comes in and pushes up higher in the bull channel or supply comes in and takes us lower, potentially below the channel to refuel for a bigger move to the upside. Bitcoin is getting a narrower price spread and the volume is declining although supply seems dominant, this is a clear sign of consolidation, an explosive move is to follow afterwards. A move to the downside judging by the evidence is looking very likely. We need a move to either direction on wide price spread and more volume to take a safe position, this is not to say you can’t get in early, however the game is about decreasing your risk, protecting your capital and increasing your profits. Patience is key, do not rush into a trade unless you have a plan and stick through it. Good luck.

Soursce: ApeX_Trading_GroupPRO