Market overview

١٩ أغسطس

Bitcoin (BTC): $58,104.70 (-3.14%)
Bitcoin Dominance: 56.88%
Fear and greed Index: 28 (fear)

WHAT HAPPENED?

Last week was flat for bitcoin. We tested the important $55,000-$57,500 zone (pushing volumes), which once again confirmed the long-term scenario.

Cumulative delta volume (an indicator showing the difference between the buy and sell volumes of cryptocurrencies) decreases, while the price remains in the sideways. This situation means that there is a large buyer in the market who is keeping the price from falling with his limit buy orders.

WHAT WILL HAPPEN: OR NOT?

The main expectations for the near future is the development of an upward movement with a breakdown of the balance to the next sell zone, either from current prices or after a repeat test of the local low of $56,100.

Sell zones: $64,000-$65,200 (mirrored volume zone), $67,000-$68,300 (mirrored volume zone).

Buy zones: $56,100 level, $52,000-$50,000 (volume anomalies), $48,000 level.

IMPORTANT DATES

Macroeconomic developments this week:

• Tuesday, August 20, 9:00 (UTC) — publication of the consumer price index in the Eurozone for July;
• Wednesday, August 21, 18:00 (UTC) — publication of FOMC protocols;
• Thursday, August 22, 12:30 (UTC) — publication of a report on the number of initial applications for unemployment benefits in the United States;
• Thursday, August 22, 13:45 (UTC) — publication of the index of business activity in the manufacturing sector for July and the index of business activity (PMI) in the US services sector for August;
• Thursday, August 22, 14:00 (UTC) — publication of the report on sales in the US secondary housing market for July;
• Friday, August 23, 14:00 (UTC) — speech by the head of the US Federal Reserve Jerome Powell, as well as the publication of a report on new home sales for July.

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