Market overview
2024-09-23

Bitcoin (BTC): $63,518.30 (+0.91%)
Bitcoin Dominance: 57.67%
Fear and Greed Index: 50 (neutral)
 
  WHAT HAPPENED? 

Last week, for bitcoin, we fully justified the scenario we marked and reached the intermediate target — the sell zone of $63,000-$64,300 (the zone of accumulated volumes).

Sells from this zone are quite weak, but at the same time we were unable to update the local peak. According to the cumulative delta, it can be seen that there is little market buyer, and, on the contrary, there is a lot of limit buyer. But to move the price, it’s not enough to buy the entire offer below. 

  WHAT WILL HAPPEN: OR NOT? 

At the moment, it's worth keeping an eye on the local picture. At a price of $64,500, an anomaly was formed from the seller when trying to break through the level. If we repeat the test, and we cannot pass it, we should expect a deeper correction to the next volume zone of the buyer — in the $61,000 area.

Globally, we still expect growth. There are no strong reversal formations yet, so we’re following the development of events and looking for a point to join.

The next target is the  sell zone  of $66,100-$68,200 (volume zone).

 Buy zones:  $61,000-$60,000 (volume anomalies), $57,000-$56,400 (volume zone). 

 IMPORTANT DATES 

• September 23, Monday, 13:45 (UTC) — publication of business activity indices in the manufacturing and services sectors of the United States for September;
• September 24, Tuesday, 14:00 (UTC) — publication of the US consumer confidence index for September;
• September 25, Wednesday, 14:00 (UTC) — publication of the volume of new home sales in the USA for August;
• September 26, Thursday, 10:30 7:30 (UTC) — announcement of the Swiss Central Bank's interest rate decision;
• September 26, Thursday, 8:00 (UTC) — press conference of the National Bank of Switzerland;
• September 26, Thursday, 12:30 (UTC) — publication of the number of initial applications for US unemployment benefits;
• September 26, Thursday, 13:20 (UTC) — speech by the head of the US Federal Reserve Jerome Powell's;
• September 27, Friday, 12:30 (UTC) — publication of the basic price index of US personal consumption expenditures for August and separately for the whole year.

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