Hello everyone! This is the daily market update from the CryptoRobotics trader-analyst.
At the moment, Bitcoin is attempting to break through the ascending trendline, which may indicate a shift into a sideways (consolidation) phase.
In the near term, local lows are likely to be tested, followed by a rebound after a false breakout, returning price back into the current range.
This scenario is supported by:
strong sell absorption on the cumulative delta,
the overall bullish market context,
and continued accumulation of long positions by whales in the spot ETF over the past 9 days.
Buy Zones:
$107,500 and $106,600 (in case of false breakdowns),
$103,200–$102,000 (market sell absorption),
around $100,000 (initiative volume),
$98,000–$97,200 (local support),
$93,000,
$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.