Bitcoin (BTC): $67,300.14 (+0.81%)
Bitcoin Dominance: 55.46%
Fear and greed Index: 70 (greed)
WHAT HAPPENED?
Last week, the price of bitcoin increased by ~ 13%. Now we've come very close to the volume sell zones, from which, most likely, we'll receive a reaction and go for a correction.
The current movement also indicates local weakness, the probability of an ATH update is getting weaker and weaker, which suggests a potential decline to at least ~$63,000.
WHAT WILL HAPPEN: OR NOT?
At current levels, we have a local volume buy zone of $67,000-$66,350, from which we're likely to get the last round of growth to the sell zones before the correction. This situation should only be considered by intraday traders, since the movement potential is only a few percent.
Buy zones: $65,000-$63,400 (accumulated volumes), $61,700-$60,800 (pushing volume), $58,700-$55,200 (accumulated volume zone), $55,000-$53,900 (volume anomalies zone).
Sell zones: $68,700-$69,800 (volume anomalies), $70,500-$71,400 (accumulated volume).
IMPORTANT DATES
Macroeconomic developments this week:
• July 22, Monday, 17:00 (GMT+3) — home sales in the US secondary market;
• July 23, Tuesday, 16:45 (GMT+3) — index of business activity in the manufacturing and services sectors of the United States, as well as the decision on the Canadian interest rate;
• July 23, Tuesday, 17:00 (GMT+3) — new home sales in the USA;
• July 25, Thursday, 15:30 (GMT+3) — US GDP for the 2nd quarter of 2024, as well as the number of initial applications for unemployment benefits;
• July 26, Friday, 15:30 (GMT+3) — the basic price index of personal consumption expenditures in the United States.
*This post is not a financial recommendation. Make decisions based on your own experience.
Bitcoin Dominance: 55.46%
Fear and greed Index: 70 (greed)
WHAT HAPPENED?
Last week, the price of bitcoin increased by ~ 13%. Now we've come very close to the volume sell zones, from which, most likely, we'll receive a reaction and go for a correction.
The current movement also indicates local weakness, the probability of an ATH update is getting weaker and weaker, which suggests a potential decline to at least ~$63,000.
WHAT WILL HAPPEN: OR NOT?
At current levels, we have a local volume buy zone of $67,000-$66,350, from which we're likely to get the last round of growth to the sell zones before the correction. This situation should only be considered by intraday traders, since the movement potential is only a few percent.
Buy zones: $65,000-$63,400 (accumulated volumes), $61,700-$60,800 (pushing volume), $58,700-$55,200 (accumulated volume zone), $55,000-$53,900 (volume anomalies zone).
Sell zones: $68,700-$69,800 (volume anomalies), $70,500-$71,400 (accumulated volume).
IMPORTANT DATES
Macroeconomic developments this week:
• July 22, Monday, 17:00 (GMT+3) — home sales in the US secondary market;
• July 23, Tuesday, 16:45 (GMT+3) — index of business activity in the manufacturing and services sectors of the United States, as well as the decision on the Canadian interest rate;
• July 23, Tuesday, 17:00 (GMT+3) — new home sales in the USA;
• July 25, Thursday, 15:30 (GMT+3) — US GDP for the 2nd quarter of 2024, as well as the number of initial applications for unemployment benefits;
• July 26, Friday, 15:30 (GMT+3) — the basic price index of personal consumption expenditures in the United States.
*This post is not a financial recommendation. Make decisions based on your own experience.
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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.
Unlock your potential in trading
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.