Bitcoin and altcoin overview(September 04-05)
Yesterday, Bitcoin bounced off the sell zone of $59,000-$59,550, which we noted on Monday. We tested the $58,000 zone, where we saw a volume reaction, but there was no consolidation above this mark, and the buyer did not resume.
After that, we began to implement the scenario with a test of the $56,000 level.
At the moment, the price action is quite weak, and the lows are also being updated weakly, but at this stage, opening long positions is too risky. Above, we have a sell zone of $58,000-$59,400, and only after consolidating above it does it make sense to look for a long position. Until then, we will remain in a stable bearish trend.
There is a high probability of a full breakout of the local low and a test of the global buyer zone of $53,000-$50,000, so we are waiting for the culmination and for now, we are sitting without positions on the first cryptocurrency.
Sell zones: level: $58,000-$59,400 (mirror volume zone), $63,000-$64,300 (zone of accumulated volumes).
Buy zones: $53,000-$50,000 (zone of large volume anomalies), level $48,000.
Interesting altcoins.
Yesterday we looked at the ORDI coin, for which we received a reaction from the marked zone of $31-$30.3, but unfortunately, there was no full rebound, and a volume defense from sales appeared above.
At the moment, a more interesting situation is developing for this asset.
We tested an important volume zone located below, from which a strong buying reaction followed. Large cluster anomalies were formed at the price of $29.6. Upon returning to this mark, we may see a full reversal with the potential to renew the level of $32.85
After that, we began to implement the scenario with a test of the $56,000 level.
At the moment, the price action is quite weak, and the lows are also being updated weakly, but at this stage, opening long positions is too risky. Above, we have a sell zone of $58,000-$59,400, and only after consolidating above it does it make sense to look for a long position. Until then, we will remain in a stable bearish trend.
There is a high probability of a full breakout of the local low and a test of the global buyer zone of $53,000-$50,000, so we are waiting for the culmination and for now, we are sitting without positions on the first cryptocurrency.
Sell zones: level: $58,000-$59,400 (mirror volume zone), $63,000-$64,300 (zone of accumulated volumes).
Buy zones: $53,000-$50,000 (zone of large volume anomalies), level $48,000.
Interesting altcoins.
Yesterday we looked at the ORDI coin, for which we received a reaction from the marked zone of $31-$30.3, but unfortunately, there was no full rebound, and a volume defense from sales appeared above.
At the moment, a more interesting situation is developing for this asset.
We tested an important volume zone located below, from which a strong buying reaction followed. Large cluster anomalies were formed at the price of $29.6. Upon returning to this mark, we may see a full reversal with the potential to renew the level of $32.85
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