Hello everyone! This is the daily analysis from a trader-analyst at CryptoRobotics.
Yesterday, Bitcoin bounced off the volume zone at $109,200–$106,500, but then faced resistance in the $110,100–$111,500 area — a zone we previously overlooked due to the strong bullish context.
Currently, the positive trend remains intact, and we are still expecting a new local high. However, before that happens, a decline and a retest of the local low at $106,600 is likely. Supporting the continuation of the overall uptrend are the following factors: absorption on the cumulative delta, an unbroken ascending trendline, and volume distribution.
Buy zones:
$109,200–$106,500 (volume zone)
$103,200–$102,000 (absorption of market sells)
Around $100,000 (aggressive buying volumes)
$98,000–$97,200 (local support)
$93,000 level
$91,500–$90,000 (strong buy-side imbalance)
This publication is not financial advice.
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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.