Market overview
Bitcoin (BTC): $64,395.69 (+0.91%)
Bitcoin Dominance: 54.75%
Fear and greed index: 71 (greed)
WHAT HAPPENED?
Last week, the main scenario for bitcoin was executed: a false breakdown of the lower limit of the global flat ($59,000) was made and a reaction was received from the buyer. Now we've come to one of the sell zones of ~$64,000 (maximum volume concentration) and are in flat.
WHAT WILL HAPPEN: OR NOT?
This week, we can expect the continuation of the upward movement. A breakdown of the marked sloping line is likely and a test of important zones from which buys are expected to resume.
Local sell zones, marked by our trader-analyst Egor in a blog on TradingView, only added fuel for the price movement, therefore they become buyer's zones: $61,600-$60,300 (pushing volumes), $58,500-$57,000 (volume anomalies).
Sell zones above current levels: $66,000-$66,600 (accumulated volumes), 69,400-$71,000 (seller's market aggression and absorption of buys), $71,800-$72,500 (volume zone).
IMPORTANT DATES
As for macroeconomic events, no significant reports are expected this week, but it is worth paying attention to:
• May 10, 9:00 (GMT+3) — UK GDP for 2023 and the first quarter of 2024.
*This post is not financial recommendation. Make decisions based on your own experience.
Bitcoin Dominance: 54.75%
Fear and greed index: 71 (greed)
WHAT HAPPENED?
Last week, the main scenario for bitcoin was executed: a false breakdown of the lower limit of the global flat ($59,000) was made and a reaction was received from the buyer. Now we've come to one of the sell zones of ~$64,000 (maximum volume concentration) and are in flat.
WHAT WILL HAPPEN: OR NOT?
This week, we can expect the continuation of the upward movement. A breakdown of the marked sloping line is likely and a test of important zones from which buys are expected to resume.
Local sell zones, marked by our trader-analyst Egor in a blog on TradingView, only added fuel for the price movement, therefore they become buyer's zones: $61,600-$60,300 (pushing volumes), $58,500-$57,000 (volume anomalies).
Sell zones above current levels: $66,000-$66,600 (accumulated volumes), 69,400-$71,000 (seller's market aggression and absorption of buys), $71,800-$72,500 (volume zone).
IMPORTANT DATES
As for macroeconomic events, no significant reports are expected this week, but it is worth paying attention to:
• May 10, 9:00 (GMT+3) — UK GDP for 2023 and the first quarter of 2024.
*This post is not financial recommendation. Make decisions based on your own experience.
Unlock your potential in trading
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.