Bitcoin and altcoin overview(August 06-07)
We are moving according to our scenario for Bitcoin. We have re-entered the zone of extreme volumes $52,000-$50,000 and received a reaction.
Currently, we are slightly above the upper similar zone, but there has not been a full consolidation yet, so at the moment, we can expect a return to lower levels. With full consolidation above, the first target will be $60,000.
Priority remains with longs.
Buying zones below: $52,000-$50,000, $48,000-$47,000 (pushing volumes), $44,000-$41,600 (accumulated volumes).
Closest selling zones: $60,000-$62,000 (accumulated volumes), $64,000-$65,200 (mirror volume zone).
Interesting altcoins
As Bitcoin dominance increased during the dip, the situations for altcoins are very similar.
For the MEW coin, the confirmed buying zone is $0,00425-$0,004. We expect a reaction from it and join the longs.
The identical situation for STMX, considering the long zone $0,00557-$0,00545.
Currently, we are slightly above the upper similar zone, but there has not been a full consolidation yet, so at the moment, we can expect a return to lower levels. With full consolidation above, the first target will be $60,000.
Priority remains with longs.
Buying zones below: $52,000-$50,000, $48,000-$47,000 (pushing volumes), $44,000-$41,600 (accumulated volumes).
Closest selling zones: $60,000-$62,000 (accumulated volumes), $64,000-$65,200 (mirror volume zone).
Interesting altcoins
As Bitcoin dominance increased during the dip, the situations for altcoins are very similar.
For the MEW coin, the confirmed buying zone is $0,00425-$0,004. We expect a reaction from it and join the longs.
The identical situation for STMX, considering the long zone $0,00557-$0,00545.
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Unlock your potential in trading
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.