Bitcoin and altcoin overview (February 25-26)
Yesterday, Bitcoin completely ignored the levels we had marked and broke the scenario of a quick recovery for longs.
At the moment, we have tested the lower level of the global sideways range, as well as the important zone of $89,000–$86,300 (accumulated volumes). So far, we do not see a strong reaction apart from a surge in volume.
In the near future, we primarily expect a sideways movement between the two volume zones of $91,300-$92,600 and ~$89,000.
Now, for a full recovery of buying activity, it will be necessary to overcome the newly formed sell zones, which have accumulated significantly during the decline.
In the case of a negative outcome and a breakdown of the current support zone, we will enter a bearish trend with an initial target of $77,000.
Sell Zones:
$107,000–$109,000 (volume anomalies).
$97,500-$98,400 (aggressive selling volumes).
$95,000-$96,700 (accumulated volumes).
$91,300-$92,600 (accumulated volumes).
Buy Zones:
$89,000–$86,300 (accumulated volumes).
$77,000-$73,000 (volume anomalies, aggressive buying volumes).
Interesting Altcoins
For SUSDT, we tested an important volume zone and received a strong reaction from buyers. We are considering a long position upon testing the local zone of $0.72-$0.69 and its reaction, or in the case of a false breakout of the local low.
At the moment, we have tested the lower level of the global sideways range, as well as the important zone of $89,000–$86,300 (accumulated volumes). So far, we do not see a strong reaction apart from a surge in volume.
In the near future, we primarily expect a sideways movement between the two volume zones of $91,300-$92,600 and ~$89,000.
Now, for a full recovery of buying activity, it will be necessary to overcome the newly formed sell zones, which have accumulated significantly during the decline.
In the case of a negative outcome and a breakdown of the current support zone, we will enter a bearish trend with an initial target of $77,000.
Sell Zones:
$107,000–$109,000 (volume anomalies).
$97,500-$98,400 (aggressive selling volumes).
$95,000-$96,700 (accumulated volumes).
$91,300-$92,600 (accumulated volumes).
Buy Zones:
$89,000–$86,300 (accumulated volumes).
$77,000-$73,000 (volume anomalies, aggressive buying volumes).
Interesting Altcoins
For SUSDT, we tested an important volume zone and received a strong reaction from buyers. We are considering a long position upon testing the local zone of $0.72-$0.69 and its reaction, or in the case of a false breakout of the local low.
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.
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.