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Nikita Semov, a practicing trader and founder of the Crypto Mentors project, talks about the current market situation.
Over the past week, Bitcoin has shown a rapid decline. Let’s analyze what prospects are opening up on the movement of the first cryptocurrency and where transactions should be considered.
Over the four-hour structure, Bitcoin is in a downward trend. The correctional wave has come to the zone of volumetric densities, which indirectly testifies to the medium-term potential for the continuation of the upward dynamics.
Globally, expectations are long. Selling assets in a panic is an irrational investment decision.
Let’s consider a more local structure. The instrument has formed a balance with the boundaries of $ 49,500- $ 47,000 – BTC will continue to rotate within this range.
There is a high probability of seeing a decline after rotations to the level of $ 44,250. The emergence of the pattern “Absorption“For the cumulative delta. This indicates the absorption of all market energy by limit densities.
The expectation is based on the continuation of the balance with an exit to $ 44,000, after which the upward trend may resume.
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