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The trader spoke about the prospects of Bitcoin price after the failure of $ 21,000
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 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.
The price could not gain a foothold on the mirror level of $ 21,100- $ 21,600. This range is resistance, and strongly strong.
Currently, the price is testing the POC of the total range. A certain reaction may be in favor of growth, but there are no signs of the availability of the buyer yet (there are no candle and voluminous formations).
A bearish absorption is observed on a weekly timeframe. An ascending expansion figure is also formed, which usually works down down.
It is important to monitor the lower boundary of the main accumulation of volumes in profile.
With the appearance of candle/voluminous formations in the blue rectangle marked on the graph (reaction to Val, Value Area Low), the price can rise to the upper boundary of the monthly range (red resistance zone).
In the absence of a reaction in the “blue box”, the price will go to demolish two cascades marked with red lines.
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