The founder of the Crypto Shaman project has talked about the current situation on the market.
After a good, at first glance, impulse, the price of the asset has not yet been able to consolidate above the important extremum of $20,193, although it has updated it for a short time. Bitcoin continues to move in the $18,300-$20,300 micro flat.
Since the price has made a recent high, it is interesting to look at the bursts of liquidations. The current short clearly shows that there are few bearish traders on the market, meaning that there is not enough fuel to move up.
On the daily timeframe, you can see how the price is trying to test the downtrend line for the fourth time.
According to him, it is important to understand that a falling wedge rarely breaks up through a flat – mostly in an impulsive move and that there has already been one test of a downtrend line within the sideways trend. It failed.