Hello everyone! This is CryptoRobotics’ trader-analyst with your daily market update.
As expected, Bitcoin tested the recent local high yesterday. Before reaching the sell zone, sellers began to take control of the short-term momentum.
The current wave of selling is accompanied by increased negative delta, which signals strong selling pressure — however, the price reaction has been relatively muted so far. If buyers regain control near the POC of the recent consolidation at ~$116,000, we expect a full test of the $117,500–$119,000 sell zone (accumulated volumes). If there is no buying reaction, we could see a continuation of the decline toward the $114,300-$113,500 support zone (volume area).
Keep in mind that today at 21:00 (GMT+3), the US Federal Reserve will announce its key interest rate decision, which could trigger significant volatility and invalidate the current short-term scenario. Watch price reaction carefully at the mentioned zones.
Buy Zones:
$114,300-$113,500 (volume zone)
$111,600-$110,500 (accumulated volumes)
~$108,400 (cluster anomalies)
$108,000–$102,500 (accumulated volumes)
Sell Zones:
$117,500–$119,000 (accumulated volumes)
$121,200–$122,200 (buy absorption)
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.