Bitcoin – the bounce could be even stronger!
Hello, everyone!
Today I found that the bounce which I am waiting for can be even stronger than I supposed. If we take a look at the BTC chart we can see that the trendline which was broken at 38k have not been even retested.
The weekly Fibonacci golden pocket is located exactly next to this trendline. The bullish divergence is also forming with the RSI on the 1D chart. This is a very strong combination of factors which give me the confidence that the Bitcoin price will grow next month. The Fear & Greed index is staying in the 8-14 range for 3 weeks. I don’t think that it’s logically to see the dump from current prices. In such cases the market creates the bull trap. Let’s imagine how much greed could be in the market if the price reach
39K again. It would be the nice point to make the crash to 20k – the potential bottom of the bear market.
Good luck!
DISCLAMER: This is not a financial advice, do you own study before making a decision on the real market. If you decided to follow the idea in this article, please restrict your risk to 0.5%-1% of your entire deposit.
Today I found that the bounce which I am waiting for can be even stronger than I supposed. If we take a look at the BTC chart we can see that the trendline which was broken at 38k have not been even retested.
The weekly Fibonacci golden pocket is located exactly next to this trendline. The bullish divergence is also forming with the RSI on the 1D chart. This is a very strong combination of factors which give me the confidence that the Bitcoin price will grow next month. The Fear & Greed index is staying in the 8-14 range for 3 weeks. I don’t think that it’s logically to see the dump from current prices. In such cases the market creates the bull trap. Let’s imagine how much greed could be in the market if the price reach
39K again. It would be the nice point to make the crash to 20k – the potential bottom of the bear market.Good luck!
DISCLAMER: This is not a financial advice, do you own study before making a decision on the real market. If you decided to follow the idea in this article, please restrict your risk to 0.5%-1% of your entire deposit.
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.