Bitcoin and altcoin overview (February 07-08)
The Bitcoin scenario has remained almost unchanged. We are still expecting a resurgence of buying activity. Selling pressure remains weak, and absorption is visible in the cumulative delta.
We are considering a long position either on a test of the nearest buyer's zone below or after a breakout of the trendline followed by a retest.
Sell Zone:
📍 $107,000–$109,000 (volume anomalies)
Buy Zones:
📍 $95,000–$93,000 (volume anomalies)
📍 $89,000–$86,300 (accumulated volumes)
As for altcoins, we currently don’t see any clear setups.
We are considering a long position either on a test of the nearest buyer's zone below or after a breakout of the trendline followed by a retest.
Sell Zone:
📍 $107,000–$109,000 (volume anomalies)
Buy Zones:
📍 $95,000–$93,000 (volume anomalies)
📍 $89,000–$86,300 (accumulated volumes)
As for altcoins, we currently don’t see any clear setups.
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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.