Bitcoin and altcoin overview (March 07-08)
Yesterday, Bitcoin followed the most expected scenario and bounced off the $91,000-$94,000 zone.
During the decline, we saw a reaction from the $85,000-$84,000 buy zone (a local mirrored buy zone) and formed new support at $87,500-$85,000. If this level is tested and shows a strong reaction, we consider a long position with the potential to reach the next selling zone.
If there is no reaction, we expect a decline toward the $81,500-$79,600 area.
Selling zones:
$95,000-$96,700 (accumulated volumes)
$97,500-$98,400 (pushing volumes)
$107,000–$109,000 (volume anomalies)
Buying zones:
$87,500-$85,000 (high-volume zone)
$81,500-$79,600 (volume anomalies)
$77,000-$73,000 (volume anomalies, pushing volumes)
Interesting altcoins:
For REZ, we are considering a continuation of the long position, either on a false breakout of the marked level or on a reaction from the $0.0245-$0.0228 zone.
During the decline, we saw a reaction from the $85,000-$84,000 buy zone (a local mirrored buy zone) and formed new support at $87,500-$85,000. If this level is tested and shows a strong reaction, we consider a long position with the potential to reach the next selling zone.
If there is no reaction, we expect a decline toward the $81,500-$79,600 area.
Selling zones:
$95,000-$96,700 (accumulated volumes)
$97,500-$98,400 (pushing volumes)
$107,000–$109,000 (volume anomalies)
Buying zones:
$87,500-$85,000 (high-volume zone)
$81,500-$79,600 (volume anomalies)
$77,000-$73,000 (volume anomalies, pushing volumes)
Interesting altcoins:
For REZ, we are considering a continuation of the long position, either on a false breakout of the marked level or on a reaction from the $0.0245-$0.0228 zone.
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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.