Market overview
Bitcoin (BTC): $69,350.37 (-0.01%)
Bitcoin Dominance: 55.49%
Fear and greed Index: 72 (greed)
WHAT HAPPENED?
Last week turned out to be a busy one for bitcoin: we immediately started to grow and by Tuesday we had reached our main goal — the $71,000-$71,400 volume anomaly zone. After the formation of a local trade in this zone, bitcoin broke through the lower limit and lost about 5% of its value in a day.
We observed a stop in the price movement in the zone of pushing volumes of $70,000-$69,000, which was noted in the daily analysis on TradingView. We continue to trade in the range of these prices.
WHAT WILL HAPPEN: OR NOT?
Now it's necessary to obtain the positioning of a large volume formed when the price stops. Main expectations: resumption of buys to a new sell zone of $70,800-$71,400, a test of the sell zone and, if there are strong buys in the future, an ATH test.
Buy zones: $68,200-$67,200 (accumulated volume), $64,500-$62,700 (pushing volumes), $61,200-$60,400 (volume zone), $58,500-$57,000 (volume anomalies).
Sell area: $70,800-$71,400 (accumulated volume).
IMPORTANT DATES
The main macroeconomic events begin on Wednesday:
• Wednesday, June 12, 9:00 (GMT+3) — UK GDP report for April, publication of the German consumer price index for May;
• Wednesday, June 12, 15:30 (GMT+3) — publication of US consumer price indices
• Wednesday, June 12, 21:00 (GMT+3) — the Fed's interest rate decision, as well as the FOMC statement;
• Wednesday, June 12, 21:30 (GMT+3) — FOMC press conference;
• Thursday, June 13, 15:30 (GMT+3) - report on the number of initial applications for unemployment benefits and the US producer price index;
• Friday, June 14, 18:00 (GMT+3) — The US Federal Reserve's monetary policy report.
*This post is not financial recommendation. Make decisions based on your own experience.
Bitcoin Dominance: 55.49%
Fear and greed Index: 72 (greed)
WHAT HAPPENED?
Last week turned out to be a busy one for bitcoin: we immediately started to grow and by Tuesday we had reached our main goal — the $71,000-$71,400 volume anomaly zone. After the formation of a local trade in this zone, bitcoin broke through the lower limit and lost about 5% of its value in a day.
We observed a stop in the price movement in the zone of pushing volumes of $70,000-$69,000, which was noted in the daily analysis on TradingView. We continue to trade in the range of these prices.
WHAT WILL HAPPEN: OR NOT?
Now it's necessary to obtain the positioning of a large volume formed when the price stops. Main expectations: resumption of buys to a new sell zone of $70,800-$71,400, a test of the sell zone and, if there are strong buys in the future, an ATH test.
Buy zones: $68,200-$67,200 (accumulated volume), $64,500-$62,700 (pushing volumes), $61,200-$60,400 (volume zone), $58,500-$57,000 (volume anomalies).
Sell area: $70,800-$71,400 (accumulated volume).
IMPORTANT DATES
The main macroeconomic events begin on Wednesday:
• Wednesday, June 12, 9:00 (GMT+3) — UK GDP report for April, publication of the German consumer price index for May;
• Wednesday, June 12, 15:30 (GMT+3) — publication of US consumer price indices
• Wednesday, June 12, 21:00 (GMT+3) — the Fed's interest rate decision, as well as the FOMC statement;
• Wednesday, June 12, 21:30 (GMT+3) — FOMC press conference;
• Thursday, June 13, 15:30 (GMT+3) - report on the number of initial applications for unemployment benefits and the US producer price index;
• Friday, June 14, 18:00 (GMT+3) — The US Federal Reserve's monetary policy report.
*This post is not financial recommendation. Make decisions based on your own experience.
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