Bitcoin eventually tested the local buyer zone at $84,800–$83,500 (pushing volumes). Throughout the day, price has been consolidating within this range with reduced volatility. Meanwhile, the cumulative delta continues to break its lows, indicating an imbalance and absorption of market sell orders.
The primary scenario suggests a continuation of the upward movement toward $90,000–$93,000. This scenario will be invalidated if price secures a foothold below the current buyer zone, in which case a full retest of last week’s low is likely.
Sell Zones:
$95,000–$96,700 (accumulated volumes)
$97,500–$98,400 (pushing volumes)
$107,000–$109,000 (volume anomalies)
Buy Zones:
$84,800–$83,500 (pushing volumes)
$77,000–$73,000 (volume anomalies, pushing volumes)