Vadim Shovkun, a hands-on trader and founder of the Crypto Shaman project, talks about the current situation in the market.

We’ll see if it’s worth waiting for re-bids at the lower end or if there are other options.

The price bounced off the ascending white line. This was at an abnormal volume, indicating the aggression of the buyer. At the same time, the angle of attack increases, it is worth comparing only three attempts to approach the upper limit:

• the first – with rounding;
• the second is more aggressive, but still has damping on the top;
• the third – a strong green candle formed just below the resistance.

Also, the closing price of the four-hour bar is the highest it’s seen in weeks. The last daily impulse came in the PoC test, which powers the movement.

In the case of the second cryptocurrency, an impulsive break of resistance indicates serious aggression of the buyer. A slight pullback is possible, but overall Ethereum is very bullish.

Currently, Bitcoin and Ethereum look extremely strong. Multiple technical signs indicate exit from flats and upward movement.

However, this ascending microtrend (which can last for two to four months) is in a major bearish rally starting from an all-time high.

Rebound targets for Bitcoin are around $35,000-40,000 and a drop afterward is not ruled out.

Recall that 60% of investors polled by Bloomberg thought that the price of bitcoin was more likely to fall to $10,000 than to rise to $30,000.

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