Market overview

WHAT HAPPENED?

Last week, as expected, we tested the volume zone of $100,000-$102,000 for bitcoin. Market sales appeared from it, which returned the quotation to the sideways range.

By the middle of the week, we reached a local minimum, in the area of which there were signs of protection from the buyer.

WHAT WILL HAPPEN: OR NOT?

At the moment, there is a high probability of an upward movement to the nearest buyer's zones. We’re within the local buying zone, sales have become weak, and there is an absorption of limit orders from the buyer.

The market is awaiting the inauguration of Donald Trump as president of the United States on January 20, so trendiness is unlikely to show up this week. We’re expecting a rotation within the sideways range of $102,000-$91,300 as a priority, and we’re looking for local positions.

Buy zones: $90,600-$86,300(accumulated volumes), ~$80,000(volume anomaly), $77,000-$74,000(large volume zone).

Sell zones: $97,000-$98,800(volume zone), $100,700-$102,200(mirrored selling zone, market selling activity).

IMPORTANT DATES


Among the macroeconomic developments this week:

• Tuesday, January 14, 13:30 (UTC) — publication of the US producer price index for December;
• Wednesday, January 15, 7:00 a.m. (UTC) — publication of the UK core consumer Price index for December;
• Wednesday, January 15, 13:30 (UTC) — publication of the US consumer price index for December;
• Thursday, January 16, 7:00 a.m. (UTC) — publication of UK GDP for November and German consumer price index for December;
• Thursday, January 16, 13:30 (UTC) — publication of the basic US retail sales index for December, the number of initial applications for US unemployment benefits, the index of manufacturing activity from the Federal Reserve Bank of Philadelphia for January and the volume of US retail sales for December;
• Friday, January 17, 2:00 a.m. (UTC) — publication of China's GDP for the 4th quarter of 2024;
• Friday, January 17, 10:00 a.m. (UTC) — publication of the consumer price index in the Eurozone for December.

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

#analytics