Market overview
2024-11-18

WHAT HAPPENED? 

Last week, Bitcoin reached the crucial $90,000 mark and entered a prolonged sideways movement lasting a week.

  WHAT WILL HAPPEN: OR NOT? 

Currently, the priority remains long positions, but a negative factor is the cumulative delta, which has been increasing throughout this flat movement. This indicates that market buying is being absorbed by limit orders, suggesting an upcoming correction. We should closely watch the reaction at the extremes.

 Buying Zones:  ~$80,000 (volume anomaly), $77,000-$74,000 (large volume zone), $71,400-$70,800 (mirror volume zone), $63,100-$62,500 (mirror volume zone), $60,000-$59,000 (buyer activity).

 The nearest resistance  will be at the significant $100,000 level.

 IMPORTANT DATES 

 Macro-economic news: 

Tuesday at 13:00 (GMT+3): Consumer Price Index for the Eurozone for this year.

Wednesday at 10:00 (GMT+3): Consumer Price Index for this year in the UK.

Thursday at 16:30 (GMT+3): Initial jobless claims in the US, Philadelphia Fed Manufacturing Index.

At 18:00 (GMT+3): US Existing Home Sales.

Friday at 10:00 (GMT+3): Germany’s GDP for Q3 2024.

At 17:45 (GMT+3): US Manufacturing PMI, US Services PMI.