The law of supply and demand combines two key economic theories that explain how variations in the prices (for goods, services, commodities...) affect its supply and demand. While demand declines as the price rises, supply grows. In contrast, as the price falls, supply is constrained and demand increases. On a chart, levels of supply and demand for various prices can be represented as curves. The point where these curves intersect denotes the equilibrium price, also known as the market clearing price, or the point when supply and demand are equal. This point also symbolizes the method of price discovery in the market.
Today we take a look at the technicals for Bitcoin and Ethereum. The crypto market has been quiet for several months. On Friday we detected unusual dark pool activities (large block orders) in the Bitcoin Trust Fund and Ethereum Trust Fund, GBTC and ETHE respectively. When smart money know something, they place large orders in the dark pool exchanges, away from the public eye. By doing so, they are positioning themselves ahead of the crowds, in order to benefit from move that will follow, once the news or report is made public. However, dark pool activities do not tell us the direction of the next move. It only tell us that a large order(s) has been placed. Only a breakout (bullish) about a resistance level, or a breakdown (bearish) below a support level can confirm the direction of the next move. So, what can we expect next? Watch this video to find and to get the technical insights. Good trading! Trading Risk Disclaimer All the information shared is provided for educational