Bitcoin and altcoin overview(August 30-31)
Yesterday, Bitcoin attempted to resume its upward movement, but as expected, it encountered a strong mirror sell zone of $60,900-$62,000, from which it was pushed back into a flat pattern.
Now we can expect a local sell reaction either from the price of $60,400, or from a false breakout of the formed local high of $61,200.
At this moment, it's better to wait for a full breakout of the formed sideways pattern and join the movement on the retest.
The global priority is still long.
Sell zones: level $61,200, $63,000-$64,300 (accumulated volumes).
Buy zones: $59,550-$59,000 (accumulated volumes, the zone remains valid for potential bounce and retest), level $56,100, $52,000-$50,000 (volume anomalies), level $48,000.
Interesting altcoins.
For the IO coin, we are considering trades for continued decline from 2 volume zones: $1.72-$1.77; $1.85-$1.920.
We open a short position only if there is a reaction within the zone.
Now we can expect a local sell reaction either from the price of $60,400, or from a false breakout of the formed local high of $61,200.
At this moment, it's better to wait for a full breakout of the formed sideways pattern and join the movement on the retest.
The global priority is still long.
Sell zones: level $61,200, $63,000-$64,300 (accumulated volumes).
Buy zones: $59,550-$59,000 (accumulated volumes, the zone remains valid for potential bounce and retest), level $56,100, $52,000-$50,000 (volume anomalies), level $48,000.
Interesting altcoins.
For the IO coin, we are considering trades for continued decline from 2 volume zones: $1.72-$1.77; $1.85-$1.920.
We open a short position only if there is a reaction within the zone.
Unlock your potential in trading
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.