Hello everyone! This is a daily market analysis from a CryptoRobotics trader-analyst.
Yesterday, after testing the local resistance at $105,400, Bitcoin shifted to a downward movement — but not for long. Selling pressure was very weak, and the initiative was quickly taken over by buyers. However, after a second test of that same level, selling resumed again, indicating that sellers currently hold the upper hand.
Main expectation: a test of the local low at $103,000, from where a return into the sideways range and a potential retest of the upper sell zone is likely.
Sell Zone:
$107,000–$109,800 (accumulated volume)
Buy Zones:
Around $100,000 (aggressive buying volumes)
$98,000–$97,200 (local support)
$93,000 level
$91,500–$90,000 (strong buying imbalance)
This publication is not financial advice.
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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.