Technical analysis by Crypto_robotics about Symbol BTC: Buy recommendation (18 hour ago)

WHAT HAPPENED? Last week, after updating the historical maximum, bitcoin went into correction for the first time, after which it went sideways. At the moment, the $117,300 – $116,300 zone has been retested (strong absorption of sales) and an active reaction from buyers has been received. Within the current flat, the cumulative delta supports buyers, indicating the absorption of market sales. At the same time, the global wave structure on the 4H chart casts doubt on the last wave of buys, as we’ve rapidly adjusted back to its beginning. 💼 WHAT WILL HAPPEN: OR NOT? We expect to exit the sideways at $116,000 – $121,000 in an upward direction from the current levels, either through capturing liquidity and testing the pushing volume zone at $115,000. The target is the last ATH, which is $123,200. A re-correction is possible near $123,200, resulting in a wider flat range of $123,200 to $115,000. If there is a true breakout, we can expect the continuation of the global long trend. Buy Zones: ~$115,000 (zone of initiating/pushing volumes) $110,000–$107,000 (accumulated volume) 📰 IMPORTANT DATES Macroeconomic events this week: • Tuesday, July 22, 12:30 (UTC) — speech by Fed Chairman Jerome Powell; • Wednesday, July 23, 14:00 (UTC) — publication of data on US second-hand housing sales for June; • Thursday, July 24, 12:15 (UTC) — announcement of the deposit rate for July and the interest rate decision in the Eurozone; • Thursday, July 24, 12:30 (UTC) — publication of the number of initial applications for unemployment benefits in the United States; • Thursday, July 24, 12:45 (UTC) — press conference of the European Central Bank; • Thursday, July 24, 13:45 (UTC) — publication of business activity indices (PMI) in the manufacturing and services sectors of the United States for July; • Thursday, July 24, 14:00 (UTC) — publication of data on new home sales in the United States for June. *This post is not a financial recommendation. Make decisions based on your own experience. #analytics