Bitcoin and altcoin overview(August 30-31)
Yesterday, Bitcoin attempted to resume its upward movement, but as expected, it encountered a strong mirror sell zone of $60,900-$62,000, from which it was pushed back into a flat pattern.
Now we can expect a local sell reaction either from the price of $60,400, or from a false breakout of the formed local high of $61,200.
At this moment, it's better to wait for a full breakout of the formed sideways pattern and join the movement on the retest.
The global priority is still long.
Sell zones: level $61,200, $63,000-$64,300 (accumulated volumes).
Buy zones: $59,550-$59,000 (accumulated volumes, the zone remains valid for potential bounce and retest), level $56,100, $52,000-$50,000 (volume anomalies), level $48,000.
Interesting altcoins.
For the IO coin, we are considering trades for continued decline from 2 volume zones: $1.72-$1.77; $1.85-$1.920.
We open a short position only if there is a reaction within the zone.
Now we can expect a local sell reaction either from the price of $60,400, or from a false breakout of the formed local high of $61,200.
At this moment, it's better to wait for a full breakout of the formed sideways pattern and join the movement on the retest.
The global priority is still long.
Sell zones: level $61,200, $63,000-$64,300 (accumulated volumes).
Buy zones: $59,550-$59,000 (accumulated volumes, the zone remains valid for potential bounce and retest), level $56,100, $52,000-$50,000 (volume anomalies), level $48,000.
Interesting altcoins.
For the IO coin, we are considering trades for continued decline from 2 volume zones: $1.72-$1.77; $1.85-$1.920.
We open a short position only if there is a reaction within the zone.
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