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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.
According to the previous review, bitcoin went towards $20,000. It took a little longer, the price remained stable for a long time, but the weakness in the first cryptocurrency still showed itself.
Currently, Bitcoin continues to move in an upside channel. However, the asset began to fall quickly enough from its upper limit, which, as a rule, did not lead to an instant breakout.
The lower boundary of the channel intersects with the PoC, which the price should also “feel”. It seems that it is starting to encounter resistance from increasing volumes.
The cancellation point is very important here. If Bitcoin consolidates below $20,700 on the four-hour timeframe, then the breakdown of the ascending channel and the PoC can be termed “correct” and the prospects will be built in favor of the downside to $18,000-19,000.
Currently we can expect a microcircle with attempts to return to $23,400.
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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.
