Yesterday, while we were trading within the $78,000–$80,000 zone, no significant market buying appeared, so the price moved to test the local low. The $74,500 level wasn't swept, and we saw strong absorption of market selling, which led to a rebound.
Currently, price is caught between a volume zone and an area of buyer activity, and the signs suggest a developing sideways range.
In the coming days, we expect a full test of the local low. A false breakout of this level could offer interesting long opportunities, though we also can't rule out a full breakdown and a move toward the next buyer zone.
Sell Zones:
$78,000–$80,000 (volume zone)
$82,000–$83,900 (volume zone)
$85,600–$88,000 (absorption of buyer aggression)
$95,000–$96,700 (accumulated volumes)
$97,500–$98,400 (pushing volumes)
$107,000–$109,000 (volume anomalies)
Buy Zone:
$69,000–$60,600 (accumulated volumes)
Currently, price is caught between a volume zone and an area of buyer activity, and the signs suggest a developing sideways range.
In the coming days, we expect a full test of the local low. A false breakout of this level could offer interesting long opportunities, though we also can't rule out a full breakdown and a move toward the next buyer zone.
Sell Zones:
$78,000–$80,000 (volume zone)
$82,000–$83,900 (volume zone)
$85,600–$88,000 (absorption of buyer aggression)
$95,000–$96,700 (accumulated volumes)
$97,500–$98,400 (pushing volumes)
$107,000–$109,000 (volume anomalies)
Buy Zone:
$69,000–$60,600 (accumulated volumes)
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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.