Over the past day, not much has changed for Bitcoin. We reached a local high, followed by a pullback.
Today, we're still trading within a relatively narrow range. The cumulative delta continues to decline (indicating a large amount of market selling), but it's not leading to any significant results. Volatility is also decreasing — all of this resembles preparation for an impulse, most likely to the upside.
At the moment, an abnormal cluster of market sells has appeared around ~$94,300, which was immediately absorbed by buyers. If the price returns to this level and we see a reaction from buyers, it could be a good opportunity to open a long position with a minimal stop. The target for this move would be the next sell zone.
Sell zones:
$95,000–$96,700 (accumulated volume)
$97,500–$98,400 (aggressive pushing volume)
$107,000–$109,000 (volume anomalies)
Buy zones:
~$94,300 (abnormal cluster)
$91,500–$90,000 (strong buy-side imbalance)
$88,100–$87,000 (market sell absorption)
$85,500–$84,000 (accumulated volume)
$82,700–$81,400 (volume zone)
Level at $74,800
$69,000–$60,600 (accumulated volume)
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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.