Trader spoke about the prospects of bitcoin movement
- August 26, 2022
- 0
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
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 of the work that may occur when using the trading recommendations in the submitted reviews.
Vadim Shovkun, a hands-on trader and founder of the Crypto Shaman project, talks about the current situation in the market.
Bitcoin has now been moving in the 3% range for a week. There has been no significant change in the market since the last review.
Due to such a long lateral move, the asset inadvertently left the ascending channel. The “exit” is stagnant, abrupt, the PoC is not broken, which can be considered a false breakout at the moment. To get back into the channel, you need to gain a foothold above $21,900.
$21,700 remains an important technical level – the zone where the PoC has crossed and a clear stabilizing exit from the multi-month ascending channel. After overcoming the red mark, it will be possible to consider a move to $18,000.
Currently, the main expectation from the market is a growth between $25,000-27,000 in the long term.
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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.
