Analytics: Market outlook and forecasts

📈 WHAT HAPPENED?

Last week, Bitcoin continued its upward movement to the resistance zones. However, the seller didn’t show any activity, and the market only paused.

We’re currently trading in a narrow sideways pattern, but the buyer still has the initiative, despite being in the selling zone.

When trying to resume sales, there was a confident absorption at the $115,000 level, as shown on the cluster chart. We noted this level in our review on TradingView.

💼 WHAT WILL HAPPEN: OR NOT?

The priority scenario is an upward exit and a test of the next resistance level within today.

However, there is still a high probability of a sharp correction. Trading volumes have decreased, and seller activity could trigger a sharp downward move to the $111,000 level at any time.

The Federal Reserve meeting and interest rate decision on September 17 could increase volatility and the likelihood of a test of lower levels. Therefore, it is important to exercise caution when opening any positions this week.

Buy Zones:

$114,300–$113,500 (volume zone)

$111,600–$110,500 (accumulated volumes)

~$108,400 (cluster anomalies)

$108,000–$102,500 (accumulated volumes)

Sell Zones:

$117,500–$119,000 (accumulated volumes)

$121,200–$122,200 (buy absorption)

📰 IMPORTANT DATES

This week, we’ll be following these macroeconomic events:

• September 16, Tuesday, 12:30 (UTC) — publication of the volume and core index of US retail sales for August;
• September 17, Wednesday, 6:00 (UTC) — publication of the UK consumer price index for August;
• September 17, Wednesday, 9:00 (UTC) — publication of the Eurozone consumer price index for August;
• September 17, Wednesday, 13:45 (UTC) — announcement of the Canadian interest rate decision;
• September 17, Wednesday, 18:00 (UTC) — statement and economic forecasts from the US FOMC, as well as announcement of the US Federal Reserve interest rate decision;
• September 17, Wednesday, 18:30 (UTC) — US FOMC press conference;
• September 18, Thursday, 11:00 (UTC) — UK interest rate decision announcement;
• September 18, Thursday, 12:30 (UTC) — release of the US initial jobless claims and the US Philadelphia Fed's September Manufacturing Activity Index;
• Friday, September 19, 3:00 (UTC) — announcement of Japan's interest rate decision.


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

#analytics