Hey guys.
✅ As always on Monday we are doing a crypto market review.
📌 Last time we traded in the 103K zone and I said that the nearest target where I expect the price is in the range of 106-110K, in the middle of the week the price reached 108K, thus fulfilling the local target, after that the market correction started, the main triggers were: Fed rate cut (sell the facts) and quarterly derivatives expiration.
📊The correction in bitcoin amounted to 15% and an important support zone of 92-94K$ was tested,
📊The correction in ethereum amounted to 25% and the price reached the important zone of 3.3K$.
After which the price V figuratively bought back, you can often see a test of such lows.
📌Onchain is not showing significant deviations.
📌Spot ETFs last 2 days demonstrated outflows and closed the week with results of BTC ETFs - 447 mln, and ETH ETFs - 63 mln.
📌Open interest in derivatives is down 10%.
The current week is short due to Christmas, this is something to keep in mind.
🚨At this point I expect a continuation of the bounce, from this zone, you have to keep in mind before it can remove the lows, making a false breakout.
🔍The important support zones that should not be broken in bitcoin are 92-90K, in ethereum 2.9-3K.
🔍The important resistance zones that should be broken above to continue the growth in bitcoin are 95-96K, and in ethereum 3.5K.
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