Trader outlines Bitcoin’s movement prospects

A practising trader and founder of the Crypto Shaman project Crypto Shaman Vadim Shovkun.

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Bitcoin has been moving within a 3% range for a week. With the latest overview there have been no notable changes in the market.

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Thanks to such a prolonged sideways move, the asset has involuntarily left the ascending channel. The \”exit\” is sluggish, momentumless, PoC not breached, which at the moment can be considered a false breakout. To return to the channel, it must settle above $21 900.

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An important technical level remains $21 700 — the zone above which the PoC lies and a clear consolidation-breakout from the multi-month uptrend channel. Breaching the red level would open the path toward $18 000.

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The main market expectation now is a rise toward $25 000-$27 000.

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