I've been watching the combined order book very closely and every time the price approaches 21k area or dips below that, the supply/demand chart becomes very unbalanced with demand significantly outweighing supply. More buy trades come in (a lot more) and the price level holds.
This has happened at least 4-5 times this past week, I believe some large institutions are slowly accumulating Bitcoin at these levels, and will probably continue to do so if price dips more. The S&P doesn't look very attractive at its current level and a long term play on BTC certainly has more upside potential, worthy of allocating a portion of their capital into.
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
π° Install these recommended apps:
π² SocialGood - 100% Crypto Back on Everyday Shopping
π² xPortal - The DeFi For The Next Billion
π² CryptoTab Browser - Lightweight, fast, and ready to mine!
π° Register on these recommended exchanges:
π‘ Binanceπ‘ Bitfinexπ‘ Bitmartπ‘ Bittrexπ‘ Bitget
π‘ CoinExπ‘ Crypto.comπ‘ Gate.ioπ‘ Huobiπ‘ Kucoin.
Comments