Market overview

WHAT HAPPENED?

Last week, bitcoin tested an important buy zone of $94,000-$93,000 (volume anomalies). After that, growth resumed to the upper boundary of the sideways trend, where we faced market aggression from the seller — there was no breakdown.

At the moment, we’ve tested the level of ~$95,000, where protection in the form of volume anomalies was again recorded. This once again confirms the interest of large participants in buys at lower levels.

WHAT WILL HAPPEN: OR NOT?

Globally, we still expect bitcoin to move in an upward direction. A sell area with pushing volumes has formed above the current price. We’ll most likely get a reaction from it and retest the local lows of $94,900 and $93,400. With strong reactions from these levels, you can start looking for opportunities to enter long positions.

Sell Zone:
$107,000–$109,000 (volume anomalies).
$97,500–$98,400 (aggressive selling volumes).

Buy Zones:
~$94,900 (repeated defense by a major player),
~$93,400 (local low),
$89,000–$86,300 (accumulated volumes).
IMPORTANT DATES

This week we’re following these macroeconomic developments:

• Monday, February 24, 10:00 (UTC) — publication of the consumer price index in the Eurozone for January;
• Tuesday, February 25, 7:00 (UTC) — publication of German GDP for the 4th quarter of 2024;
• Tuesday, February 25, 15:00 — publication of the U.S. Consumer Confidence Index for February;
• Wednesday, February 26, 15:00 (UTC) — publication of data on new home sales in the United States in January;
• Thursday, February 27, 13:30 (UTC) — publication of US GDP for the 4th quarter of 2024, as well as the number of initial applications for unemployment benefits in the United States;
• Friday, February 28, 13:00 (UTC) — publication of the German consumer price index for February;
Friday, February 28, 13:30 (UTC) — publication of the basic price index of personal consumption expenditures in the United States.


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

#analytics