Bitcoin and altcoin overview (October 17-18)
Yesterday, Bitcoin continued its upward movement, tested the local high, encountered resistance, and went into a correction.
At the moment, selling pressure is quite weak, so any buyer support will resume the upward movement. Expectations remain the same - continuation of buying up to the next resistance zone.
A less likely scenario is the absence of buyer support throughout the entire decline, as well as in the nearest support zone. In this case, we should reconsider the direction of the main movement.
Buying zones: $66,000-$65,100 (volume reaction), $63,100-$62,500 (mirrored 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 market activity), $72,000 level (seller market activity).
Interesting altcoins.
For 1MBABYDOGE, we have an important volume zone. Upon testing and reaction to this zone, we open a short position.
At the moment, selling pressure is quite weak, so any buyer support will resume the upward movement. Expectations remain the same - continuation of buying up to the next resistance zone.
A less likely scenario is the absence of buyer support throughout the entire decline, as well as in the nearest support zone. In this case, we should reconsider the direction of the main movement.
Buying zones: $66,000-$65,100 (volume reaction), $63,100-$62,500 (mirrored 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 market activity), $72,000 level (seller market activity).
Interesting altcoins.
For 1MBABYDOGE, we have an important volume zone. Upon testing and reaction to this zone, we open a short position.
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