The trader spoke about the likely reduction in bitcoin price
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A practicing trader and founder of the Crypto Shaman project Vadim Shovkun talks about the current situation on the market.
After a good, at first glance, impulse, the price has not yet been able to gain a foothold on an important extremum of $ 20 193, although it has briefly updated it. Bitcoin continues to move in microflet $ 18,300- $ 20,300.
Since the price has updated the recent maximum, it is interesting to look at https://gagarin.news/news/sango-coin-car-launched-its-digital-currency/ the bursts of liquidations. The current short shows that there are few people in the market in the market. This means that the fuel is not enough for the upward movement.
The daily timeframe shows how the price is trying to test the descending trend line for the fourth time.
You need to understand several things:
- The falling wedge rarely breaks up through the flat – mainly with impulse movement;
- As part of the sidewoman, there was already one test of the descending trend line. It ended unsuccessfully;
It is also worth considering the results of the Sentiment Analysis report: Week #38. He is designed to evaluate onchain-metrics and moods on social networks, blogs, etc. D.
The current growth, in all likelihood, is associated only with a small rebound in the stock market. There may also be a small growth wave in the area of $ 21,000- $ 22,000. But, judging by the dynamics of liquidations, a day schedule with a descending trend and market moods, the conclusion suggests itself that a new wave of decrease with updating minimums is that which awaits cryptocurrency in the near future.
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