Market overview

6 hours ago

WHAT HAPPENED?

Over the past week, bitcoin has been correcting after another ATH update.

The upward movement was expected to resume, but the reaction from the buy zone didn’t occur properly. The reaction was received only from the $97,000-$94,200 zone.

WHAT WILL HAPPEN: OR NOT?

At the moment, a reserve for a price reversal may be forming. Upon repeated retest of these marks, there is a buyer's activity in terms of delta and volume. The conservative point in the long run would be to capture liquidity through a false breakdown of the local minimum.

Above, we still have a strong sell zone, from which we’re likely to get a backlash in an upward movement.
With a true breakdown of the local minimum, we can get a move to $80,000, so be careful and follow risk management.

Buy zones: level $92,300 (local low), ~$80,000 (volume anomaly), $77,000-$74,000 (major volume zone).
Sell zone: $100,000-$102,000 (mirrored volume zone).

IMPORTANT DATES


Christmas holidays start this week in many countries, so there are almost no reports. Among the significant macroeconomic events:

• December 23, Monday, 3 P.M. (UTC) — publication of the U.S. consumer confidence index;
• December 24, Tuesday, 3 P.M. (UTC) — publication of new home sales in the United States in November;
• December 26, Thursday, 13:30 (UTC) — publication of the number of initial applications for US unemployment benefits.

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

#analytics