@BOMBERuss 17 February 2022 more from that month

Vadim Shovkun, a practicing trader and founder of the Crypto Shaman project, tells about the current situation on the market. For two weeks now, the bitcoin price has been moving in the range of $41,100-$44,200. The main reason for the decline now is the conflict between Russia and Ukraine, and in particular, the aggravation of the situation in the Donbass. Analyzing the angle of attack of market players, we can talk about the increased aggression of sellers. At the same time, the volume in the last eight-hour candle is comparably lower at the moment. The weekly timeframe at the moment is formed by two pin bars. The volume of trading in this two-week range is concentrated right at the upper limit, which can be described as a serious deterrent to buyers. While the asset is flat, the main expectation of movement is built from border to border. The $41,300 and $40,600 marks are places of potential rebound. The latter is most likely to be formed through microflat. Bitcoin is in a precarious position. The correlation with the S&P 500 is very high, while the index itself looks weaker and weaker. The indicator could not bounce back impulsively, in case bitcoin is fixed below $40,600, the next potential stop zone will be at $38,500.