Vadim Shovkun, a practicing trader and founder of the Crypto Shaman project, talks about the current situation on the market.
Bitcoin has shown great movement, according to the latest review. The price went flat, and the entire cryptocurrency market showed promising growth.
Quotes broke through the resistance of $21,800-$22,100, having successfully consolidated. But this happened on reasonably low volume, and there is no typical JOC pattern to suggest a false breakout. However, the price retested already the mirror level, forming the BTC pattern.
Ethereum also gives strength to the market. Cryptocurrency has already made almost x2 from the bottom.
Although the first cryptocurrency’s growth looks cheerful after such an impulse, it falls from $30,000 to $18,000; you should not expect a swift movement. Probably, bitcoin will go sideways for a while with the prospect of exiting higher.