Bitcoin – local correction before pump?
Hello, everyone!
Yesterday I told you that the possible scenario for the Bitcoin is the new higher high on the 4h and the correction beginning because of the true bearish divergence on the 4h. I sold my BTC at the $44500 anticipating this correction. It looks like it began.
What is the target for this correction? If we look at the previous trend reverse in July 2021 the price broke through the 26 EMA and the first correction was to 0.38 Fib level and to this 26 EMA. This time I want to see the same. It will be healthy uptrend. Thus I want to re-enter the position at the $40500 – $41200. Can we see the pump from the current price ? Of course! But I want not to lose more than earn, this is the key principle of trading!
Good luck!
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Yesterday I told you that the possible scenario for the Bitcoin is the new higher high on the 4h and the correction beginning because of the true bearish divergence on the 4h. I sold my BTC at the $44500 anticipating this correction. It looks like it began.
What is the target for this correction? If we look at the previous trend reverse in July 2021 the price broke through the 26 EMA and the first correction was to 0.38 Fib level and to this 26 EMA. This time I want to see the same. It will be healthy uptrend. Thus I want to re-enter the position at the $40500 – $41200. Can we see the pump from the current price ? Of course! But I want not to lose more than earn, this is the key principle of trading!
Good luck!
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Get access to private PineScript strategies and turn script alerts into orders at your exchange account with easy-to-set up bots
Get free bot:
app.skyrexio.com
Get free bot:
app.skyrexio.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.