Market overview

WHAT HAPPENED?

Last week, for bitcoin, we tested an important zone of $95,000-$93,000 (volume anomalies), from which we received an impulsive reaction. Unfortunately, the buyer's initiative wasn’t enough to fully resume the upward movement, and we continued to trade sideways.

At the moment, we’re testing important markers with volume anomalies, so current prices are potentially among the best for entering long positions.

WHAT WILL HAPPEN: OR NOT?

The main expectation is a strong bullish exit from the downside. This is indicated by three factors:
• absorption of market sells by cumulative delta;
• Volume distribution;
• An ineffective, weak wave of sells versus an impulsive wave of buys.

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

Buy Zones:
~$95,000 (strong buyer reaction, volume anomalies),
$94,000–$93,000 (volume anomalies),
$89,000–$86,300 (accumulated volumes).

IMPORTANT DATES

Among the macroeconomic developments this week:

• Tuesday, February 18, 3:30 (UTC) — announcement of the Australian interest rate decision;
• Tuesday, February 18 — preliminary talks between the Russian Federation and the United States on ending the conflict in Ukraine;
• Wednesday, February 19, 1:00 (UTC) — announcement of the New Zealand interest rate decision;
• Wednesday, February 19, 7:00 (UTC) — publication of the UK Consumer Price Index for January;
• Wednesday, February 19, 19:00 (UTC) — publication of FOMC minutes;
• Thursday, February 20, 13:30 (UTC) — publication of the number of initial applications for US unemployment benefits, as well as the Philadelphia manufacturing activity index for February from the Federal Reserve Bank;
• Friday, February 21, 14:45 (UTC) — publication of business activity indices in the manufacturing and services sectors of the United States for February;
• Friday, February 21, 15:00 (UTC) — publication of data on sales in the US secondary housing market for January.


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

#analytics