Bitcoin and altcoin overview (November 07-08)
Yesterday, Bitcoin retested the $75,000 level we mentioned earlier, but only encountered pushing volume rather than a halt, after which it reached a new ATH again.
On one hand, it’s good that the $75,000 level responds in favor of buyers, with anomalies appearing there for the fourth time, making it a crucial point at the moment. On the other hand, the new ATH update was quite weak, and delta shows buyer exhaustion.
Currently, a rotation within the formed volume zone of $73,500–$75,000 can be expected, as a full consolidation and positioning have not yet been established. A retest of the local high would fully confirm buyers' intentions and make this zone a strong support level.
Buy zones: $71,400–$70,800 (mirror volume zone), $63,100–$62,500 (mirror volume zone), $60,000–$59,000 (buyer activity).
Interesting altcoins.
For AVAX, we have broken the wave structure and consolidated above an important volume zone. Currently, the $26.5–$25.8 levels act as a mirror volume zone. If tested and there is a reaction, we will open a long position.
On one hand, it’s good that the $75,000 level responds in favor of buyers, with anomalies appearing there for the fourth time, making it a crucial point at the moment. On the other hand, the new ATH update was quite weak, and delta shows buyer exhaustion.
Currently, a rotation within the formed volume zone of $73,500–$75,000 can be expected, as a full consolidation and positioning have not yet been established. A retest of the local high would fully confirm buyers' intentions and make this zone a strong support level.
Buy zones: $71,400–$70,800 (mirror volume zone), $63,100–$62,500 (mirror volume zone), $60,000–$59,000 (buyer activity).
Interesting altcoins.
For AVAX, we have broken the wave structure and consolidated above an important volume zone. Currently, the $26.5–$25.8 levels act as a mirror volume zone. If tested and there is a reaction, we will open a long position.
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Unlock your potential in trading
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.