Market Overview

WHAT HAPPENED?

Last week, we had a true breakdown of the local maximum for bitcoin. We considered the probability of this scenario developing in our daily analysis on TradingView.

The buyer resumed control over the delta, although we had previously noted strong sell pressure within the $98,000–$93,000 range several times, which could trigger a deep correction.

WHAT WILL HAPPEN: OR NOT?

Now the price has reached the target of $105,000, the priority remains for the longs. If BTC gains a foothold above this mark, the volume zone of $104,000–$103,000 may become a key support zone.

Sell Zones:
$107,000–$109,000 (volume anomalies).

Buy Zones:
$104,000–$103,000 (high-volume area),
~$100,000 (absorbing/breakthrough volume),
$98,000–$97,200 (local support),
$93,000 level,
$91,500–$90,000 (strong buying imbalance),
$88,100–$87,000 (absorption of market selling),
$85,500–$84,000 (accumulated volume),
$82,700–$81,400 (volume zone),
$74,800 level,
$69,000–$60,600 (accumulated volume).

IMPORTANT DATES

Macroeconomic events to watch out for:
• Tuesday, May 13, 12:30 (UTC) — publication of the basic US consumer price index for April, as well as in comparison with April 2024;
• Wednesday, May 14, 06:00 (UTC) — German Consumer Price Index for April is published;
• Thursday, May 15, 06:00 (UTC) — publication of UK GDP for March, for the first quarter of 2025, as well as in comparison with the fourth quarter of 2024;
• Thursday, May 15, 12:30 (UTC) — publication of the basic US retail sales index for April, the number of initial applications for US unemployment benefits, the index of manufacturing activity from the Federal Reserve Bank of Philadelphia, the US producer price index, the volume of retail sales in the USA for April and May;
• Thursday, May 15, 12:40 (UTC) — Speech by Fed Chairman Jerome Powell;
• Thursday, May 15, 23:50 (UTC) — Japan's GDP for the first quarter of 2025 is published.


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

#analytics