BTC - 6h. Will sellers be able to keep the price in the 59k?
Telah dikemas kini
Hello colleagues. The week of trading on the BTC market closed oddly well. Although the crypto market was a bit stormy over the weekend, buyers were able to rehabilitate themselves on Sunday. Ultimately, the weekly candle closed at $58202, if we look at the weekly timeframe, we see that the sellers' attempt to start a correction from mid-March failed and last week the buyers started a counterattack:
Now the global situation on the BTCUSD market looks like continued growth, and the price squeezing to a historical high - in order to break it.
At the moment, buyers again stopped at the local liquidity zone, from which a wave of decline to $50,400 began on March 20. since March 30, buyers have been unable to gain a foothold above the range of $59200-59550 . However, the buyers are not planning to give up the initiative. It is noticeable how confidently they hold the $ 56,570 mark:
The dominance of BTCUSDT has decreased and now stands at 57%. The last time such a percentage of dominance was back in August 2020:
This fact allows other coins to move independently and grow actively. Decreasing dominance in the bitcoin market can postpone the growth wave for a certain time. Therefore, we focus more on other coins.
Looking at the hourly timeframe, the continuation of the consolidation in the range of $56570-59550 is quite high. Therefore, retesting $56,570 will be within the normal range. But the breakout of this mark and the test of the range of $54200-54800 can become a very tense situation for buyers. Therefore, we are following the current consolidation and expect breaking through the critical points.
______________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
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Now the global situation on the BTCUSD market looks like continued growth, and the price squeezing to a historical high - in order to break it.
At the moment, buyers again stopped at the local liquidity zone, from which a wave of decline to $50,400 began on March 20. since March 30, buyers have been unable to gain a foothold above the range of $59200-59550 . However, the buyers are not planning to give up the initiative. It is noticeable how confidently they hold the $ 56,570 mark:
The dominance of BTCUSDT has decreased and now stands at 57%. The last time such a percentage of dominance was back in August 2020:
This fact allows other coins to move independently and grow actively. Decreasing dominance in the bitcoin market can postpone the growth wave for a certain time. Therefore, we focus more on other coins.
Looking at the hourly timeframe, the continuation of the consolidation in the range of $56570-59550 is quite high. Therefore, retesting $56,570 will be within the normal range. But the breakout of this mark and the test of the range of $54200-54800 can become a very tense situation for buyers. Therefore, we are following the current consolidation and expect breaking through the critical points.
______________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
Nota
We are waiting for the range of $54200-54500. So far, buyers have not been able to maintain the local mark of $56,500. So now the buyers' initiative is in question. We will closely monitor the range of $54200-54500Nota
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