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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.
The price failed to consolidate above the mirror level of $21,100-21,600. This range is resistance and quite strong.
Currently, the price is testing the PoC of the entire range. A certain reaction may be in favor of growth, but no signs of buyers yet (no candles and volume formations).
There is a bearish trend on the weekly time frame. An incremental expansion model, which usually runs downward, has also been established.
It is important to follow the lower limit of major volume accumulation along the profile.
When candles/volume formations appear in the blue rectangle marked on the chart (reaction to VAL, Value Area Low), the price may rise to the upper limit of the monthly range (red resistance zone).
If there is no reaction in the “blue box”, the price will go to destroy the two cascades marked with red lines.
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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.
