FX.co ★ Bitcoin control zones 03.06.19

The current position of the instrument indicates the formation of a local zone of accumulation. The main support for the last decline was a significant level of $ 8000. The immediate goal of growth remains to be the maximum of last week. The probability of its retest is 70%. This suggests the need to hold purchases that were opened last week or earlier.

It is important to understand that the medium-term impulse is strong enough. This makes sales at significant levels only an opportunity to partially fix a long position. For the reversal of the instrument, it will be necessary to form a model about the false breakdown and absorption.

An alternative model of the decline will be a movement into the frame of an already formed accumulation zone. The lower boundary of this zone is at the mark of $ 8000, while the upper boundary is located at around $ 9000. Work in this range involves finding favorable prices for the purchase, with partial fixation upon reaching the upper limit. Sales can only be opened if there is already an open long position.

Daily CZ - daily control zone. The area formed by important data from the futures market, which change several times a year.

Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change several times a year.

Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.