Hello everyone! This is CryptoRobotics’ trader-analyst with your daily analysis.
Yesterday and today, Bitcoin continued to trade sideways and even attempted to break the local high, but was met with market selling pressure.
At the moment, we still prioritize the short scenario. Around the ~$84,700 level, we observed a battle between buyers and sellers. If the price consolidates below this level, it will confirm the bearish scenario and we’ll look for a move down to the next buy zone.
If buyers strongly defend this level, we may retest the local high.
Sell zones:
$85,600–$88,000 (absorption of aggressive buying),
$95,000–$96,700 (accumulated volume),
$97,500–$98,400 (pushing volumes),
$107,000–$109,000 (volume anomalies).
Buy zones:
$82,700–$81,400 (volume zone),
Level at $74,800,
$69,000–$60,600 (accumulated volume).
What do you think will happen first?
A full breakout through the sell zone and continuation of the uptrend, or a correction?
Share your thoughts in the comments — would be interesting to compare views!
This post is not financial advice
Yesterday and today, Bitcoin continued to trade sideways and even attempted to break the local high, but was met with market selling pressure.
At the moment, we still prioritize the short scenario. Around the ~$84,700 level, we observed a battle between buyers and sellers. If the price consolidates below this level, it will confirm the bearish scenario and we’ll look for a move down to the next buy zone.
If buyers strongly defend this level, we may retest the local high.
Sell zones:
$85,600–$88,000 (absorption of aggressive buying),
$95,000–$96,700 (accumulated volume),
$97,500–$98,400 (pushing volumes),
$107,000–$109,000 (volume anomalies).
Buy zones:
$82,700–$81,400 (volume zone),
Level at $74,800,
$69,000–$60,600 (accumulated volume).
What do you think will happen first?
A full breakout through the sell zone and continuation of the uptrend, or a correction?
Share your thoughts in the comments — would be interesting to compare views!
This post is not financial advice
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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.