BTC Analytics Jul 28
Hello everyone!!!
Price has completed the plan and started to unload the compression of liquidity.
The market capitalization is 1.18 trillion and the dominance index is 49.77%. The fear and greed index is at 52, which is in line with the neutral sentiment.
A retest of the broken level at 29500 should be noted. If the price consolidates above this mark, a quick return to the levels of 29700-29900 (OV overlap) is expected. In such a situation, the target values for short positions will be Fibo 0.5 levels of the last retracement - 28500-28300. In case of consolidation at these levels, it is possible to consider LONG-positions with the purpose of going to the levels 32500-33500.
However, if we fail to consolidate above 28500, we can consider any purchases only at 25500-26200, as there is a volume hole between these levels, and the support may not withstand a sharp fall.
All in all, market conditions are in a dynamic state and price behavior should be closely monitored to make the most informed trading decisions.
Good luck and patience everyone!
Always in touch,
Relictum Analytics
Price has completed the plan and started to unload the compression of liquidity.
The market capitalization is 1.18 trillion and the dominance index is 49.77%. The fear and greed index is at 52, which is in line with the neutral sentiment.
A retest of the broken level at 29500 should be noted. If the price consolidates above this mark, a quick return to the levels of 29700-29900 (OV overlap) is expected. In such a situation, the target values for short positions will be Fibo 0.5 levels of the last retracement - 28500-28300. In case of consolidation at these levels, it is possible to consider LONG-positions with the purpose of going to the levels 32500-33500.
However, if we fail to consolidate above 28500, we can consider any purchases only at 25500-26200, as there is a volume hole between these levels, and the support may not withstand a sharp fall.
All in all, market conditions are in a dynamic state and price behavior should be closely monitored to make the most informed trading decisions.
Good luck and patience everyone!
Always in touch,
Relictum Analytics
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