Market overview
Bitcoin (BTC): $64,395.69 (+0.91%)
Bitcoin Dominance: 54.75%
Fear and greed index: 71 (greed)
WHAT HAPPENED?
Last week, the main scenario for bitcoin was executed: a false breakdown of the lower limit of the global flat ($59,000) was made and a reaction was received from the buyer. Now we've come to one of the sell zones of ~$64,000 (maximum volume concentration) and are in flat.
WHAT WILL HAPPEN: OR NOT?
This week, we can expect the continuation of the upward movement. A breakdown of the marked sloping line is likely and a test of important zones from which buys are expected to resume.
Local sell zones, marked by our trader-analyst Egor in a blog on TradingView, only added fuel for the price movement, therefore they become buyer's zones: $61,600-$60,300 (pushing volumes), $58,500-$57,000 (volume anomalies).
Sell zones above current levels: $66,000-$66,600 (accumulated volumes), 69,400-$71,000 (seller's market aggression and absorption of buys), $71,800-$72,500 (volume zone).
IMPORTANT DATES
As for macroeconomic events, no significant reports are expected this week, but it is worth paying attention to:
• May 10, 9:00 (GMT+3) — UK GDP for 2023 and the first quarter of 2024.
*This post is not financial recommendation. Make decisions based on your own experience.
Bitcoin Dominance: 54.75%
Fear and greed index: 71 (greed)
WHAT HAPPENED?
Last week, the main scenario for bitcoin was executed: a false breakdown of the lower limit of the global flat ($59,000) was made and a reaction was received from the buyer. Now we've come to one of the sell zones of ~$64,000 (maximum volume concentration) and are in flat.
WHAT WILL HAPPEN: OR NOT?
This week, we can expect the continuation of the upward movement. A breakdown of the marked sloping line is likely and a test of important zones from which buys are expected to resume.
Local sell zones, marked by our trader-analyst Egor in a blog on TradingView, only added fuel for the price movement, therefore they become buyer's zones: $61,600-$60,300 (pushing volumes), $58,500-$57,000 (volume anomalies).
Sell zones above current levels: $66,000-$66,600 (accumulated volumes), 69,400-$71,000 (seller's market aggression and absorption of buys), $71,800-$72,500 (volume zone).
IMPORTANT DATES
As for macroeconomic events, no significant reports are expected this week, but it is worth paying attention to:
• May 10, 9:00 (GMT+3) — UK GDP for 2023 and the first quarter of 2024.
*This post is not financial recommendation. Make decisions based on your own experience.
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