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The trader excluded the growth of bitcoin in the near future

Posted on December 27, 2022

The trader excluded the growth of bitcoin in the near future

Forecasts of financial markets are the private opinion of their authors. The current analysis is not a guide to trade. FORKLOG is not responsible for the results https://gagarin.news/news/is-it-the-end-the-hotbit-exchange-suspends-its-operations/ of the work that may arise when using trade recommendations from the presented reviews.

A practicing trader and founder of the Crypto Shaman project Vadim Shovkun talks about the current situation on the market.

As stated in a review for November 9, the price of Bitcoin formed a new minimum of $ 15,500. We analyze the current situation in the cryptocurrency market.

A support bar was formed on a four -hour timeframe to an exit from a five -month side side. Bui pattern demonstrates significant sales by a large player in the evening of November 8 and a further decline in relatively low volumes.

Bitcoin later tested the level of $ 18,400. The protection of his positions by a large player was formed by a strong BUI + BTI pattern – a breakdown of a side of a large volume with consolidation and retest from below.

The fear and greed index kept the mark 21, which is considered a normal indicator for the bear market. Bitcoin’s stop should be waiting for the indicator to fall below 10.

As before, there are no signs for growth above $ 18,400. The main expectation is to update minimums for $ 15,000.

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