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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 the work 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 continues to move in a tight circle. Should we still expect a decline or has the long-awaited growth started? Let’s try to understand.
As always, let’s start with the stock market analysis.
The S&P 500 index failed to update the key extreme at $4200. Also, a rounding pattern is formed in the daily time frame. Indicates the possibility of a fall in nails.
The first cryptocurrency stays in the ascending channel. Yesterday’s weak growth attempt failed, local maximum could not be updated.
The last update of the Max was completely unconvincing. This could be a sign that buyers are weakening.
On the eight-hour time frame, the aggressiveness of the seller can also be seen (an increase in trading volumes). Morning absorption of yesterday’s growth was in higher volumes, exceeding yesterday’s figures.
The prospects are the same – in favor of a rollback. At the very least, the price should reach the lower boundary of the ascending channel. However, bids are more likely to reach $20,000 soon.
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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.
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