Bitcoin and altcoin overview (August 13-14)
Regarding Bitcoin, we have met the scenario indicated yesterday and formed a local sideways movement with a slight expansion to the downside.
Currently, the scenario remains the same, with potential for continued rotations within the range, possibly with a false break of the local low to capture liquidity. Opening long positions at current spot prices is not recommended. The cumulative delta still indicates absorption of market buying.
Globally, a significant correction is likely, with an initial target of $80,000.
Buy zones: $77,000-$74,000 (large volume zone), $71,400-$70,800 (mirror volume zone), $63,100-$62,500 (mirror volume zone), $60,000-$59,000 (buyer activity).
Interesting altcoins.
For AVAX, a corrective phase has started. A retest of the major volume zone at $33.6-$34.8 and a reaction from it could lead to a decent short move of 10-15%.
Currently, the scenario remains the same, with potential for continued rotations within the range, possibly with a false break of the local low to capture liquidity. Opening long positions at current spot prices is not recommended. The cumulative delta still indicates absorption of market buying.
Globally, a significant correction is likely, with an initial target of $80,000.
Buy zones: $77,000-$74,000 (large volume zone), $71,400-$70,800 (mirror volume zone), $63,100-$62,500 (mirror volume zone), $60,000-$59,000 (buyer activity).
Interesting altcoins.
For AVAX, a corrective phase has started. A retest of the major volume zone at $33.6-$34.8 and a reaction from it could lead to a decent short move of 10-15%.
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