Bitcoin and altcoin overview (December 04-05)
Yesterday, Bitcoin made a downward expansion, tested the buying zone of $94,000-$92,500, and returned to balance.
At the moment, we should expect another wave of selling, as buying is quite weak, with delta rapidly falling throughout the growth period, indicating buying exhaustion.
A volume anomaly has appeared at $96,000, which hasn't yet received full positioning, but we may see a strong reaction upon retest. We consider it as a level of interest.
We continue to prioritize longs or, at minimum, expect expansion in the upward direction.
Buying zones: $92,000-$89,400(accumulated volumes), ~$80,000(volume anomaly), $77,000-$74,000(major volume zone), $71,400-$70,800(mirror volume zone), $63,100-$62,500(mirror volume zone), $60,000-$59,000(buyer activity).
Selling zones: $100,000(important psychological level).
Interesting altcoins
For AVAX, we are considering continuation of longs.
Either from the major accumulated volume zone ($52-$50), or after positioning (consolidation above) and retest of the current delta imbalance zone ($54.5-$53.8).
At the moment, we should expect another wave of selling, as buying is quite weak, with delta rapidly falling throughout the growth period, indicating buying exhaustion.
A volume anomaly has appeared at $96,000, which hasn't yet received full positioning, but we may see a strong reaction upon retest. We consider it as a level of interest.
We continue to prioritize longs or, at minimum, expect expansion in the upward direction.
Buying zones: $92,000-$89,400(accumulated volumes), ~$80,000(volume anomaly), $77,000-$74,000(major volume zone), $71,400-$70,800(mirror volume zone), $63,100-$62,500(mirror volume zone), $60,000-$59,000(buyer activity).
Selling zones: $100,000(important psychological level).
Interesting altcoins
For AVAX, we are considering continuation of longs.
Either from the major accumulated volume zone ($52-$50), or after positioning (consolidation above) and retest of the current delta imbalance zone ($54.5-$53.8).
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Unlock your potential in trading
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.