Bitcoin and altcoin overview (October 16-17)
Yesterday, Bitcoin experienced increased volatility. We consolidated above the important volume level of $66,000, completely filled the selling zone of $66,500-$68,200 (volume zone), and immediately fell back.
At the moment, we expect the upward movement to continue. Several factors support this scenario: absorption of sales by delta and a repeated reaction at the $66,000 mark, where we formed a new support zone of $66,000-$65,100.
If we consolidate below this zone, a trend change to downward is likely.
Buying 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).
Selling zones: $70,000 level (seller's market activity), $72,000 level (seller's market activity).
Interesting altcoins.
For MEME, the main volumes are distributed in the zone of $0.0144-$0.015. When testing this zone and seeing a reaction, we open a short position.
At the moment, we expect the upward movement to continue. Several factors support this scenario: absorption of sales by delta and a repeated reaction at the $66,000 mark, where we formed a new support zone of $66,000-$65,100.
If we consolidate below this zone, a trend change to downward is likely.
Buying 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).
Selling zones: $70,000 level (seller's market activity), $72,000 level (seller's market activity).
Interesting altcoins.
For MEME, the main volumes are distributed in the zone of $0.0144-$0.015. When testing this zone and seeing a reaction, we open a short position.
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