Key Price Levels for Bitcoin

26 באוק׳ 2023

The left-side daily chart illustrates a recently formed demand level. The rapid and aggressive upward movement from this level suggests a significant presence of unfilled buy orders. It may be prudent to consider initiating a buy position upon the initial touch of this price point. The long-term target would be the supply indicated on the right-side 4-hour chart. This particular supply zone is also pertinent for a potential sell position.

The 4-hour chart provides a close examination of the price action, depicting how the price descended from that level on the 5th of May. This signifies the next critical supply zone above. This analysis holds relevance for both swing traders and those with a longer-term trading approach."