elkuko21

Still reasonable supply left in BTC/USDT (Binance)

BINANCE:BTCUSDT   Bitcoin / Tether
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.
Kommentar: 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.
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