BTC/USDT Analysis. Negative News

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Hello everyone! This is the CryptoRobotics trader-analyst, and here’s your daily analysis.

Yesterday evening, Bitcoin tested its all-time high. At the time, no major profit-taking was observed; however, starting from midday today, the price sharply moved downward. The drop was triggered by weak U.S. Producer Price Index (PPI) data and a statement from the U.S. Treasury Secretary indicating that there are no plans to replenish the country’s Bitcoin reserves through purchases.

As a result, the price tested a local low, stopping just short of the $117,500–$116,000 buy zone (accumulated volumes). For now, it’s important to watch the buyer’s reaction. In any case, based on the current structure, we could see another wave of selling from around $120,000 — where a strong imbalance in both volumes and delta has been recorded — or from the $121,000–$122,200 area (buy absorption).

Entering positions at the moment is not recommended, as the current structure partially conflicts with the volume distribution.

Buy zones:

$117,500–$116,000 (accumulated volumes)

$115,300–$114,000 (accumulated volumes)

Sell zone:

$121,200–$122,200 (buy absorption)

This publication is not financial advice.

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