Bitcoin and altcoin overview (September 03-04)

Sep 3, 2024

For Bitcoin, we are trying to execute the first scenario mentioned yesterday. We have already broken through the local downward line and reached the resistance zone of $59,000-$59,550, from which we received the first selling reaction.

Currently, we primarily expect a test of the price around ~$58,000, where repeated cluster-based protection was observed, followed by a price reaction and continuation of the upward movement. There is also a possibility of testing the local low of $57,150.

Overall, Bitcoin currently appears uncertain, with reduced trading volumes and no strong anchors, so any negative macro news could trigger a capitulation of the bulls and break through the lower levels, testing the zone of major volume anomalies $53,000-$50,000.

Selling zones: level $61,200, $63,000-$64,300 (accumulated volume zone).

Buying zones: level ~$58,000 (buyer protection by clusters), $53,000-$50,000 (zone of major volume anomalies), level $48,000.

Interesting altcoins.

ORDI looks interesting. During the rise, a large zone of $31-$30.3 formed on the cluster chart, which is already positioned as a buying zone.
In the presence of a reaction, we open a long for the continuation of the upward movement.