Bitcoin and altcoin overview (February 21-22)
Bitcoin reached the upper boundary of the volume zone in the range at $98,000 yesterday.
At the moment, sellers attempted to defend this level, but buyers absorbed the pressure, forming local support at this price. Although we have broken through this level, the movement remains weak, making a correction very likely. Yesterday's alternative scenario did not play out.
For long-term holders, it is essential to wait for consolidation above $100,000 and look for long entries upon a correction to the high-volume range zone at $98,000–$96,000.
Sell Zone:
🔻 $107,000–$109,000 (volume anomalies).
Buy Zones:
🟢 $97,500–$96,800 (local volume zone).
🟢 ~$95,000 (sell absorption).
🟢 $89,000–$86,300 (accumulated volumes).
Interesting Altcoins
For SWARM, a full reversal has occurred, making it worth considering long positions either on a breakout of the current local highs or on a retest of support zones:
📍 $0.412–$0.405
📍 $0.39–$0.38
At the moment, sellers attempted to defend this level, but buyers absorbed the pressure, forming local support at this price. Although we have broken through this level, the movement remains weak, making a correction very likely. Yesterday's alternative scenario did not play out.
For long-term holders, it is essential to wait for consolidation above $100,000 and look for long entries upon a correction to the high-volume range zone at $98,000–$96,000.
Sell Zone:
🔻 $107,000–$109,000 (volume anomalies).
Buy Zones:
🟢 $97,500–$96,800 (local volume zone).
🟢 ~$95,000 (sell absorption).
🟢 $89,000–$86,300 (accumulated volumes).
Interesting Altcoins
For SWARM, a full reversal has occurred, making it worth considering long positions either on a breakout of the current local highs or on a retest of support zones:
📍 $0.412–$0.405
📍 $0.39–$0.38
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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.
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.