Hello everyone! This is the CryptoRobotics trader-analyst with your daily market review.
Yesterday, Bitcoin finally tested the $117,500–$116,000 buy zone (accumulated volumes), triggering a weak wave of buying. Currently, trading is taking place within a new volume zone, where sellers still dominate. Inside the current sideways range, the $118,480 level acts as a local sell zone (area of aggressive selling).
At the moment, we expect a continuation of the local decline with another test of the $117,200 low. Buying positions are not advisable right now — despite being in a support zone, there’s still no sign of active buyers. This increases the likelihood of a drop to the next liquidity zone.
Buy Zones:
$117,500–$116,000 (accumulated volumes)
$115,300–$114,000 (accumulated volumes)
Sell Zones:
$118,480 (local zone, aggressive seller activity)
$121,200–$122,200 (buy absorption)
This publication is not financial advice.
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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.