Analysis of Supply and Demand Levels in the Bitcoin Market
2024-11-26

Supply and Demand Analysis
The chart clearly highlights key supply and demand zones. The red zone marks a significant supply area where sellers are likely to step in, while the blue zone represents a strong demand area with solid buyer interest. Right now, the price is showing upward momentum and is moving toward the supply zone. If it breaks through this zone with strong volume, it could signal more bullish movement ahead.

Bitcoin Market Structure
The overall structure of Bitcoin remains bullish as long as the $49,000 level holds. A break below this level might indicate a shift toward a bearish trend.

Outlook and Target
If the uptrend continues, I expect Bitcoin to hit an impressive long-term target of $109,000, which aligns with the broader bullish sentiment.