$BTC/USDT Analysis. Market in panic mode
Hello everyone! CryptoRobotics trader-analyst here with your daily market analysis.
Yesterday, Bitcoin failed to realize our local rebound scenario. After entering the previously highlighted $66,600β$65,800 zone containing absorbed volume, the market showed almost no reaction, and the decline continued toward major technical levels.
The $65,000 level was broken almost immediately, while volume remained weak, indicating a lack of buyer strength. However, the next key level at $62,500 produced a much more interesting reaction. During a false breakdown of this area, volume surged sharply and the price quickly recovered back above the level. Today, on the retest of this zone, we are once again seeing a reaction from buyers.
At the moment, the probability of a meaningful rebound is higher than it was yesterday. The last time we saw volume of this magnitude on the 1β4 hour timeframes was back in February. If these volumes are successfully positioned on the long side, consolidation above $65,000 could provide an opportunity for long positions.
However, the safer approach would be to wait for a pullback into the $64,000β$62,000 buy zone and look for confirmation before entering. Buying at current prices appears less attractive, as several resistance zones remain overhead and the risk-to-reward ratio is relatively unfavorable.
A breakdown below the local low could trigger another wave of selling pressure.
Buy zones
$64,000β$62,000 (potential buy zone)
$47,000β$40,000 (daily buy zone)
Sell zones
$66,000β$68,000 (volume zone)
$69,500β$70,000 (local mirror zone)
$71,100β$71,900 (volume zone)
$72,800β$73,800 (buyer absorption)
~$75,000 (volume anomalies)
$76,400β$77,000 (volume zone)
$79,000β$79,400 (volume zone)
$83,000β$85,500 (volume anomalies)
$87,600β$90,500 (accumulated volumes)