Hi everyone! This is CryptoRobotics’ trader-analyst with your daily market update.
Yesterday, Bitcoin reached our ~$94,300 zone (abnormal cluster) and almost immediately showed a buying reaction on the 1H timeframe, but the local high wasn’t retested.
Today, Bitcoin dropped more than 2% following the release of the U.S. GDP report, briefly piercing through the mentioned zone before quickly recovering the losses.
At this point, we estimate the chances of breaking out of the current range at 50/50 — uncertainty is growing, and a stronger correction toward the $91,000 area is becoming increasingly likely, either from current levels or after another test of the recent high.
Sell zones:
$97,500–$98,400 (aggressive pushing volume)
$107,000–$109,000 (volume anomalies)
Buy zones:
$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 area)
Level at $74,800
$69,000–$60,600 (accumulated volume)
What do you think will come first — a breakout above the high or a correction?
Share your thoughts in the comments — it’ll be interesting to compare perspectives!
This publication does not constitute financial advice.
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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.