Market overview
2024-10-21

WHAT HAPPENED? 

Last week, we implemented one of the scenarios we noted for bitcoin – we consolidated above the zone with anomalies along the delta and continued the upward movement. 

  WHAT WILL HAPPEN: OR NOT? 

At the moment, we’re close to significant levels where the seller can prove himself.

There is also a weakness of the buyer – the highs are updated weaker and weaker, so there is a possibility of a sharp corrective movement. We draw attention to the important buy zone of $66,000-$65,100 (volume reaction), from which we can get a rebound in the development of this scenario. A continuation of the upward movement from current prices is also likely, but joining it looks dangerous. 

The main scenario remains long-term, there is a high probability of an ATH update in the coming weeks 

 Buy zones:  $66,000-$65,100 (volume reaction), $63,100-$62,500 (mirror volume zone), $60,000-$59,000 (buyer activity), $55,000-$53,800 (volume zone), $57,000-$56,400 (volume zone).

 Sell zones:  $70,000 level (seller market activity), $72,000 level (seller market activity).

  IMPORTANT DATES 

Macroeconomic events this week:
• October 23, Wednesday, 13:45 (UTC) — publication of the decision on the Canadian interest rate;
• October 23, Wednesday, 14:00 (UTC) — publication of a report on home sales in the US secondary market;
• October 24, Thursday, 12:30 (UTC) — publication of the number of initial applications to receive US unemployment benefits;
• October 24, Thursday, 13:45 (UTC) — publication of the index of business activity in the US manufacturing sector and the index of business activity in the US services sector for October;
• October 24, Thursday, 14:00 (UTC) — publication of the report on new home sales in the USA for September.



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