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disclaimer Forecasts of financial markets are the exclusive opinion of their authors. The current analysis is not a guide for trading. ForkLog is not responsible for the results
Forecasts of financial markets are the exclusive opinion of their authors. The current analysis is not a guide for trading. ForkLog is not responsible for the results of studies that may occur when using the trading recommendations in the reviews provided.
Vadim Shovkun, a hands-on trader and founder of the Crypto Shaman project, talks about the current situation in the market.
Bitcoin is showing signs of recovery. We understand whether the growth will continue.
A small ascending wedge is forming on the daily timeframe.
The area highlighted in yellow in the graphic below is the location of the same historical volumes mentioned in previous reviews. Citations has already made an attempt to return to this range, but failed to gain ground in this area.
It is very likely that the fall inertia will exceed 40%. If a certain growth occurs over the weekend, it is very likely that the gap will close and the price will return to its previous values.
Due to extremely high historical volumes in the medium term, it is better to work with long positions. However, it is reasonable to expect trading to have a good entry point. Given the observations, the market could provide even better prices for it.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
