Market overview

16 thg 9, 2024

Bitcoin (BTC): $58,862.35 (-2.07%)
Bitcoin Dominance: 57.95%
Fear and Greed Index: 39 (fear)

WHAT HAPPENED?

Last week, bitcoin reached the important $53,000-$50,000 buy zone (large volume anomalies), received a reaction, broke through the downward sloping line and continued to grow.

A new upward sloping line has been formed, within which we continue to trade until now.

The sell zone of $58,700-$59,400 (mirrored volume zone) didn’t give a reaction, but, on the contrary, was broken through — this also gave confidence to buyers.

WHAT WILL HAPPEN: OR NOT?

We tested a new buy zone of $58,300-$56,400 (volume zone) and got an initial reaction. A repeat test of the buy zone and a potentially deeper test of this zone are likely.

Locally, in order to resume a full-fledged upward movement, it’s necessary to gain a foothold above the price of ~$59,600. The sell area and the $63,000 level will serve as a benchmark for growth in the near future.

Buy zones: $58,300-$56,400 (volume zone), ~$55,000 (the largest horizontal volume in the last month), $53,000-$50,000 (zone of large volume anomalies).

Sell zones: $63,000-$64,300 (accumulated volume zone), $66,100-$68,200 (volume zone).

IMPORTANT DATES

Macroeconomic events that we’re following this week:

• September 17, Tuesday, 12:30 (UTC) — publication of the base index and retail sales volume for August in the United States;
• September 18, Wednesday, 6:00 (UTC) — publication of the consumer price index UK for August;
•September 18, Wednesday, 9:00 (UTC) — publication of the consumer price index in the Eurozone;
• September 18, Wednesday, 18:00 (UTC) — announcement of the decision on the interest rate of the US Federal Reserve (we are waiting for a decrease of at least 25 bp);
• September 18, Wednesday, 21:30 (GMT+3) / 18:30 (UTC) — FOMC press conference;
• September 19, Thursday, 14:00, 11:00 (UTC) — announcement of the UK interest rate decision;
• September 19, Thursday, 11:30 (UTC) — publication of the Bank of England's inflation letter;
• September 19, Thursday, 15:30 12:30 (UTC) — publication of the number of initial applications for US unemployment benefits and the index of manufacturing activity from the Philadelphia Federal Reserve for September;
• September 19, Thursday, 17:00 14:00 (UTC) — publication of sales volume in the US secondary housing market for August.


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