WHAT HAPPENED?
Last week, bitcoin failed to gain a foothold above the key $105,000 mark. We observed active protection and absorption of market buys by the seller, as a result of which a sell zone of $105,000–$105,700 was formed. After that, the price went sideways again and remained there until the end of the week.
On Monday, there was a surge of liquidity above the previous high — the price tested the zone of volume anomalies of $107,000–$109,000, from where a sharp reaction from the seller immediately followed.
WHAT WILL HAPPEN: OR NOT?
At the moment, the local scenario is on the side of the "bears". There is a break in the uptrend on the hourly timeframe. There is an active absorption of buys in key sell areas, both in delta and volume.
When returning to the $105,700 level, it’s worth considering entering a short position if there is a repeat reaction from the seller, with a goal of reducing to $100,000. In the future, we’ll monitor the price behavior in the buyer's zones.
Sell Zones:
~$105,700 (point of strongest absorption of market buys),
$107,000–$109,000 (volume anomalies).
Buy Zones:
~$100,000 (initiative buying volumes),
$98,000–$97,200 (local support),
$93,000 level,
$91,500–$90,000 (strong buy-side imbalance),
$88,100–$87,000 (absorption of market sells),
$85,500–$84,000 (accumulated volumes),
$82,700–$81,400 (high-volume area),
$74,800 level,
$69,000–$60,600 (accumulated volumes).
IMPORTANT DATES
The following macroeconomic events are expected this week:
• Tuesday, May 20, 04:30 (UTC) — announcement of the Australian interest rate decision for May;
• Wednesday, May 21, 06:00 (UTC) — publication of the UK consumer price index for April;
• Thursday, May 22, 12:30 (UTC) — publication of the number of initial applications for unemployment benefits in the United States;
• Thursday, May 22, 13:45 (UTC) — publication of business activity indices in the manufacturing and services sectors of the United States for May;
• Thursday, May 22, 14:00 (UTC) — publication of sales results on the secondary housing market in the USA for April;
• Friday, May 23, 06:00 (UTC) — publication of German GDP for the first quarter of 2025;
• Friday, May 23, 14:00 (UTC) — publication of new home sales results in the United States for April.
*This post is not a financial recommendation. Make decisions based on your own experience.
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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.