Bitcoin and altcoin overview (November 01-02)
Yesterday, Bitcoin reached the lower boundary of the volume zone at $71,000 but showed no reaction and consolidated below this level. Currently, we are in a local downtrend and have already approached the nearest buyer zone at $70,000-$68,900 (push volumes). For now, the scenario of a quick update to the all-time high is on hold.
At this moment, there is no strong reaction from buyers, so even if a bounce occurs, we expect a resumption of the downtrend from new selling zones.
Selling zones: $71,000 (lower boundary of the large volume zone, mirror zone), $72,000-$73,000 (area of volume anomalies).
Buying zones: $67,500-$66,800 (maximum volume of the sideways movement), $63,100-$62,500 (mirror volume zone), $60,000-$59,000 (buyer activity).
Interesting altcoins:
For BICO, we’re considering two short-position scenarios: (1) consolidation below the volume zone of $0.225-$0.217, with a short on the retest, and (2) a false breakout of the local high at $0.2357.
At this moment, there is no strong reaction from buyers, so even if a bounce occurs, we expect a resumption of the downtrend from new selling zones.
Selling zones: $71,000 (lower boundary of the large volume zone, mirror zone), $72,000-$73,000 (area of volume anomalies).
Buying zones: $67,500-$66,800 (maximum volume of the sideways movement), $63,100-$62,500 (mirror volume zone), $60,000-$59,000 (buyer activity).
Interesting altcoins:
For BICO, we’re considering two short-position scenarios: (1) consolidation below the volume zone of $0.225-$0.217, with a short on the retest, and (2) a false breakout of the local high at $0.2357.
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