Yesterday, we tested the $59,850 level for Bitcoin. On the 4-hour timeframe, this is still just a false breakout.
We have now created a setup for a reversal, with buyer activity focused between $60,000-$59,000.
The best outcome for the bulls would be to test the nearest selling zone and then retest the new buying zone, from which we expect a resumption of a full-fledged upward movement.
When retesting the buying zone from current prices, it is necessary to wait for confirmation before joining the longs.
Buying zones: $60,000-$59,000 (buyer activity), $55,000-$53,800 (volume zone), $57,000-$56,400 (volume zone).
Selling zones: $61,800-$62,900 (accumulated volumes), ~$64,150 (volume protection), $66,500-$68,200 (volume zone), $72,000 level (seller market activity).
Interesting altcoins.
For DOGE, we have reached an important buyer zone and made a rebound. If we retest the $0.105-$0.1037 zone and see a buyer reaction, we consider a long position with the first target at $0.111 (selling market activity).
We have now created a setup for a reversal, with buyer activity focused between $60,000-$59,000.
The best outcome for the bulls would be to test the nearest selling zone and then retest the new buying zone, from which we expect a resumption of a full-fledged upward movement.
When retesting the buying zone from current prices, it is necessary to wait for confirmation before joining the longs.
Buying zones: $60,000-$59,000 (buyer activity), $55,000-$53,800 (volume zone), $57,000-$56,400 (volume zone).
Selling zones: $61,800-$62,900 (accumulated volumes), ~$64,150 (volume protection), $66,500-$68,200 (volume zone), $72,000 level (seller market activity).
Interesting altcoins.
For DOGE, we have reached an important buyer zone and made a rebound. If we retest the $0.105-$0.1037 zone and see a buyer reaction, we consider a long position with the first target at $0.111 (selling market activity).
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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.