Hello everyone! This is a daily analysis from a trader-analyst at CryptoRobotics.
Yesterday, Bitcoin continued to rotate within a narrow sideways range, and so far, there has been no breakout. We retested the lower boundary of the range and once again saw absorption of market selling at that level.
At the moment, the scenario remains valid — we expect a breakout to the upside. Several factors support this outlook: strong defense at the lows, delta absorption across the entire range, and buyer control on the most recent local upward wave.
A less likely scenario is a dip into the lower buy zone, a liquidity grab, and another attempt to move higher.
Buy Zones:
~$115,000 (zone of initiating/pushing volumes)
$110,000–$107,000 (accumulated volumes)
This publication is not financial advice.
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Disclaimer
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.