Yesterday, Bitcoin continued its decline from the previously mentioned volume zone, but there was no confirmed breakdown below it or a breach of the local low.
At the moment, a trend reversal to the upside has formed.
Currently, the zone of accumulated volume has shifted and is now located in the $83,600–$82,500 range.
A breakout above or below this zone will define the local trend for the coming days.
Our primary scenario considers an upward move toward the $85,600–$88,000 sell zone (absorption of buyer aggression), from where we expect selling pressure to resume.
Sell Zones:
$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 Zones:
$77,000–$73,000 (volume anomalies, pushing volumes)
At the moment, a trend reversal to the upside has formed.
Currently, the zone of accumulated volume has shifted and is now located in the $83,600–$82,500 range.
A breakout above or below this zone will define the local trend for the coming days.
Our primary scenario considers an upward move toward the $85,600–$88,000 sell zone (absorption of buyer aggression), from where we expect selling pressure to resume.
Sell Zones:
$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 Zones:
$77,000–$73,000 (volume anomalies, pushing 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.