The trader excluded the growth of bitcoin in the near future

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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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