WHAT HAPPENED?
Last week, as expected, we tested the $77,000-$73,000 buyer zone for bitcoin, after which buys resumed.
At the moment, we’ve reached the important sell area of $85,000-$88,000, from which a reaction has been received. Protection from the buyer is clearly visible, but so far it has not been possible to cause a full-fledged decline. The cumulative delta shows an absorption of sells, which indicates an ongoing struggle and a possible retest of the marked sell area.
WHAT WILL HAPPEN: OR NOT?
The main medium-term expectations are still focused on buying. But this week we’ll probably retest the local minimum and the buyer zone of $77,000-$73,000.
Selling Zones:
$85,000–$88,000 (high-volume zone)
$95,000–$96,700 (accumulated volumes)
$97,500–$98,400 (pushing volumes)
$107,000–$109,000 (volume anomalies)
Buying Zones:
$77,000–$73,000 (volume anomalies, pushing volumes)
IMPORTANT DATES
Macroeconomic events this week:
• Monday, March 17, 12:30 (UTC) — publication of the base index and volume of US retail sales for February;
• Wednesday, March 19, 3:00 (UTC) — announcement of Japan's interest rate decision;
• Wednesday, March 19, 10:00 (UTC) — publication of the consumer price index in the Eurozone compared to February last year;
• Wednesday, March 19, 18:00 (UTC) — FOMC statement and announcement of the US Federal Reserve interest rate decision;
Wednesday, March 19, 18:30 (UTC) — FOMC press Conference;
• Thursday, March 20, 8:30 (UTC) — announcement of the Swiss National Bank's Q1 interest rate decision;
• Thursday, March 20, 9:00.(UTC) — press conference of the National Bank of Switzerland;
• Thursday, March 20, 12:00 (UTC) — publication of the Bank of England's inflation letter, announcement of the UK interest rate decision;
• Thursday, March 20, 12:30 (UTC) — publication of the number of initial applications for US unemployment benefits, as well as the Philadelphia manufacturing activity index for March from the Federal Reserve;
• Thursday, March 20, 14:00 (UTC) — publication of sales results in the US secondary housing market for February.
*This post is not
a financial recommendation. Make decisions based on your own experience.
#analytics
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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.