Market overview

WHAT HAPPENED?

Last week, contrary to expectations, bitcoin broke out of the sideways trend, breaking through important sell zones.

In our daily analysis on our TradingView blog, we mentioned that after breaking through the upper boundary of the $102,700 sideways range, we’re highly likely to see an ATH test. This has already happened — bitcoin has updated the maximum.

WHAT WILL HAPPEN: OR NOT?

Donald Trump's inauguration as president of the United States will take place today at 20:00 (GMT+3), so we should expect increased volatility.

Now it’s worth paying attention to the seller's activity at the maximum level: if it doesn’t appear, the movement will continue in the upward direction. If the outcome is reversed, we can get a fairly strong correction.

There are no selling zones.

Buy zones: $102,000-$99,600(volume zone), $97,400-$96,300(volume zone), $92,400-94,300(volume anomalies), $90,600-$86,300(accumulated volumes).

IMPORTANT DATES

Macroeconomic developments this week:

• Thursday, January 23, 13:30 (UTC) — publication of the number of initial applications for US unemployment benefits;
• Friday, January 24, 3:00 (UTC) — announcement of Japan's interest rate decision;
• Friday, January 24, 14:45 (UTC) — publication of the index of business activity in the manufacturing sector and the index of business activity in the US services sector;
• Friday, January 24, 15:00 (UTC) — publication of sales results in the US secondary housing market for December.


*This post is not a financial recommendation. Make decisions based on your own experience.

#analytics