Market overview

WHAT HAPPENED?

Last week, for bitcoin, we received a strong buyer's reaction from the resulting volume anomalies. By Monday evening, the price had already reached the important sell zone of $100,000-$103,000 (accumulated volumes). After that, we observed a correction for the first cryptocurrency.

WHAT WILL HAPPEN: OR NOT?

Now Bitcoin has approached the buyers' zone interest in the range of $95,000-$93,000 (the zone of volume anomalies), from which it’s natural to expect a reaction. It’s worth noting that the price decline was accompanied by weak volatility and low volumes, which indicates a possible rebound.

We expect the development of a full-fledged upward movement. In the absence of growth, a test of the lower boundary of the global sideways trend is likely.

Sell Zones:
📍 $98,000–$99,200 (local volume zone)
📍 $107,000–$109,000 (volume anomalies)

Buy Zones:
📍 $95,000–$93,000 (volume anomalies)
📍 $89,000–$86,300 (accumulated volumes)

IMPORTANT DATES

Macroeconomic events of the week:
• Tuesday, February 11, 15:00 (UTC) — speech by US Federal Reserve Chairman Jerome Powell;
• Wednesday, February 12, 13:30 (UTC) — publication of US consumer price indices;
• Wednesday, February 12, 15:00 (UTC) — speech by US Federal Reserve Chairman Jerome Powell;
• Thursday, February 13, 7:00 (UTC) — publication of UK GDP and German Consumer Price Index for January;
• Thursday, February 13, 13:30 (UTC) — publication of the number of initial applications for unemployment benefits in the United States, producer Price Index (PPI) USA for January;
• Friday, February 14, 13:30 (UTC) — publication of the base index and volume of retail sales in the United States for January.


*This post is not a financial recommendation. Make decisions based on your own experience.

#analytics