Hello everyone! This is a trader-analyst from CryptoRobotics, and here’s the daily market analysis.
Yesterday, Bitcoin tested the previously marked sell zone at $112,200-$113,200 (volume area), where we saw only a minor reaction.
The overall context, along with the large cluster of stop orders above $113,500, suggests a high probability of continued upward movement toward the next resistance zones: $114,400-$115,500 (volume area) and ~$116,500 (volume anomaly). At those levels, it will be important to watch for selling pressure, as another significant correction may occur.
Currently, the price is holding above local support at $112,600-$112,000. If buyers manage to protect this zone, we can expect another upward impulse. A breakdown and consolidation below it, however, may extend the decline at least toward the next support.
Buy Zones:
$111,000-$110,600 (volume area)
$108,000-$102,500 (accumulated volumes)
Sell Zones:
$114,400-$115,500 (volume area)
~$116,500 (volume anomaly)
$117,200-$119,000 (accumulated volumes)
$121,200-$122,200 (buying absorption)
This publication does not constitute financial advice.
