Hello everyone! This is the daily update from a CryptoRobotics trader-analyst.
Yesterday, Bitcoin tested the local volume area at $115,800–$114,900 and then continued its upward movement, reaching the lower boundary of the strong resistance zone at $117,600–$118,600 (accumulated volume), followed by a pullback.
Currently, the price is hovering around the volume support zone near ~$116,400. Selling pressure is relatively weak and is being absorbed by buyers — which is confirmed by delta data. This makes it reasonable to expect another wave of buying and a deeper test of the resistance zone. After that, we’ll watch closely for the seller’s reaction.
Buy zones:
• ~$116,400 (local volume support)
• $113,300–$112,700 (local absorption of selling)
• $110,000–$107,000 (accumulated volume)
Sell zone:
• $117,600–$118,600 (accumulated volume)
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.