Bitcoin - two buy zones

Hello, everyone!

As I told you in this article the Bitcoin wants to dump. It continue forming the super strong divergence and the dump now is only the question of time. As I predicted it usually forms a lot of short squeezes and it's very difficult to execute short trade becuase the price always hit your stop loss. That's why I am not shorting the market usually. As you know I use only insane short setups which we have already seen at the very top $24500.

Today I want you to bring your attention to the 1D time frame. The BTC continue testing the Fibonacci golden pocket and I still suppose that the dump is coming. The price also hit exactly the pointed out earlier the incorrect, but valid trend line and got a rejection. Moreover last two candles was on the volume above average, but with the narrow spread. It is the classical anomaly according to the Volume Spread Analysis which I am actively studying now. Thus, I can conclude that the Bitcoin is forming the bull trap.

MACD shows us that the bulls took control the market because the histogram crossed the zero line and now it's enough the reach the buy zone to form the divergence and the local bull market start. Even if the price will fall the the strong buy zone the long signal is still actual and become even more strong. I hope that the market give us my insane long setup because without it it's too risky to enter the position.

Best regards, Ivan.

Trade easy with Smart tools
Utilize AI-enhanced SmartBot for automated decisions and SmartTrade terminal for tailored manual trades, all in one integrated platform
Get started

Similar blog posts

Experience the next level of trading efficiency