The trader did not rule out the renewal of bitcoin minimums
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A practicing trader and founder of the Crypto Shaman project Vadim Shovkun talks about the current situation on the market.
Flat continues to torment market players, depriving the deposit of the most impatient. Consider the current situation on the crypto ripe in order to understand when you can return to it.
A review on the stock index is a continuation of the previous two reviews.
The quotation has updated its summer minimum, forming the next wave of Lower Low (LL). The amount of $ 4400 has not been formed on the rebound. There is no need to talk about the cost of the bottom and its readiness to absorb the fall for the current year. A small rebound is possible in the area of $ 3830- $ 3900, after which it is likely to further dive.
The daily timeframe clearly formed a squeezing to the upper trendy descending wedge, which began to form with ATH . A breakdown up with a strong movement in the same direction is possible, but statistically, the exit from the wedges occurs Robinhood Receives through a pulse movement in both directions, and not through a four -month flat.
Range $ 18 400- $ 20 400 remains a zone of uncertainty. As stated in the previous review, if the price is fixed over $ 20,400, there is a high probability of updating the local maximum $ 22,900.
In case of departure under $ 18,400, the local structure of HL will be broken&HLL, which in turn with a huge probability will lead to updating Bitcoin of summer minimums.
Despite any of the outcomes, the medium -term situation in bitcoin is disappointing. According to the latest Sentiment Analysis, most traders continue to wait for the exit up from a four -month accumulation, and there are still more longs on the market than shorts.
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