Bitcoin and altcoin overview (October 16-17)
Yesterday, Bitcoin experienced increased volatility. We consolidated above the important volume level of $66,000, completely filled the selling zone of $66,500-$68,200 (volume zone), and immediately fell back.
At the moment, we expect the upward movement to continue. Several factors support this scenario: absorption of sales by delta and a repeated reaction at the $66,000 mark, where we formed a new support zone of $66,000-$65,100.
If we consolidate below this zone, a trend change to downward is likely.
Buying zones: $66,000-$65,100 (volume reaction), $63,100-$62,500 (mirror volume zone), $60,000-$59,000 (buyer activity), $55,000-$53,800 (volume zone), $57,000-$56,400 (volume zone).
Selling zones: $70,000 level (seller's market activity), $72,000 level (seller's market activity).
Interesting altcoins.
For MEME, the main volumes are distributed in the zone of $0.0144-$0.015. When testing this zone and seeing a reaction, we open a short position.
At the moment, we expect the upward movement to continue. Several factors support this scenario: absorption of sales by delta and a repeated reaction at the $66,000 mark, where we formed a new support zone of $66,000-$65,100.
If we consolidate below this zone, a trend change to downward is likely.
Buying zones: $66,000-$65,100 (volume reaction), $63,100-$62,500 (mirror volume zone), $60,000-$59,000 (buyer activity), $55,000-$53,800 (volume zone), $57,000-$56,400 (volume zone).
Selling zones: $70,000 level (seller's market activity), $72,000 level (seller's market activity).
Interesting altcoins.
For MEME, the main volumes are distributed in the zone of $0.0144-$0.015. When testing this zone and seeing a reaction, we open a short position.
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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.