Market structure (supply & demand) $42,100 - $42,999 (March BTC)
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Good evening traders,
I'm sorry for not being active over the past week (I started a new full time job and finished my training week) HOWEVER, I will be posting 2-5 times every week going forward but wanted to make a quick technical analysis because it's now March 2021.
What happened in March 2020? One of the biggest crashes in crypto and stock market history.
Do I think history will fully repeat itself? Of course not.
Do I think history will rhyme? Of course I do.
The timing of price action and the current month of the year (2 months left remaining in Q1 2021) is no coincidence and wouldn't be surprised if bitcoin decides to completely nuke in the month of March.
MARKET STRUCTURE:
Previous all time highs:
#1: $20,000 (still not retested)
#2: $42,100 (still not retested)
ALSO, we haven't yet completed a 30% pullback on this current downtrend we've seen.
(a similar correction from the previous ATH would take us to around $38,000, give or take a thousand dollars)
Please get this technical analysis to 30+ likes to unlock more content (please smash that like button or leave a comment to show your support) 👍
Stay tuned for daily/weekly updates around daily close (7pm EST)
I'm sorry for not being active over the past week (I started a new full time job and finished my training week) HOWEVER, I will be posting 2-5 times every week going forward but wanted to make a quick technical analysis because it's now March 2021.
What happened in March 2020? One of the biggest crashes in crypto and stock market history.
Do I think history will fully repeat itself? Of course not.
Do I think history will rhyme? Of course I do.
The timing of price action and the current month of the year (2 months left remaining in Q1 2021) is no coincidence and wouldn't be surprised if bitcoin decides to completely nuke in the month of March.
MARKET STRUCTURE:
Previous all time highs:
#1: $20,000 (still not retested)
#2: $42,100 (still not retested)
ALSO, we haven't yet completed a 30% pullback on this current downtrend we've seen.
(a similar correction from the previous ATH would take us to around $38,000, give or take a thousand dollars)
Please get this technical analysis to 30+ likes to unlock more content (please smash that like button or leave a comment to show your support) 👍
Stay tuned for daily/weekly updates around daily close (7pm EST)
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