Bitcoin and altcoin overview (February 20-21)
Yesterday with Bitcoin we broke through the $96,000 level and reached the zone of maximum volume concentration during the sideways market. The buying volume is rather weak, and there isn’t an obvious dominance of either side yet.
At the moment, it is most likely that we will test the upper boundary of the maximum volume zone at $98,000 and then correct again. Globally, we still expect a full resumption of buying.
An alternative scenario is a strong volume breakout above $98,000—in this case, we consider going long during local corrections.
Sell zone:
$107,000–$109,000 (volume anomalies).
Buy zones:
~$95,000 (sell absorption),
$89,000–$86,300 (accumulated volumes).
Interesting altcoins:
For IPUSDT, we are considering a continuation of the long from the zone $2.8–$2.61 if there is a reaction.
For AMBUSDT, a serious potential for a reversal has formed, with a huge number of volume anomalies being released, above which we are currently consolidating. If the zone $0.16–$0.15 is tested and reacts, we open a long. An alternative scenario would be opening a long on a false breakout of the local minimum.
At the moment, it is most likely that we will test the upper boundary of the maximum volume zone at $98,000 and then correct again. Globally, we still expect a full resumption of buying.
An alternative scenario is a strong volume breakout above $98,000—in this case, we consider going long during local corrections.
Sell zone:
$107,000–$109,000 (volume anomalies).
Buy zones:
~$95,000 (sell absorption),
$89,000–$86,300 (accumulated volumes).
Interesting altcoins:
For IPUSDT, we are considering a continuation of the long from the zone $2.8–$2.61 if there is a reaction.
For AMBUSDT, a serious potential for a reversal has formed, with a huge number of volume anomalies being released, above which we are currently consolidating. If the zone $0.16–$0.15 is tested and reacts, we open a long. An alternative scenario would be opening a long on a false breakout of the local minimum.
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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.