Bitcoin – 99% fake pump!

Last short was unsuccessful. It's absolutely normal situation. It was hedging short. My 20% of depo in Bitcoin performed well.

Hello, everyone!

Last short was unsuccessful. It’s absolutely normal situation. It was hedging short. My 20% of depo in Bitcoin performed well. It looks like the market can form the bull trap like we saw with the breakout of triangle at $30k.

Let’s take a look at the 4h timeframe of the WhiteBit exchange. The price formed the upward trend channel and hit the resistance at 0.38 Fibonacci retracement again. We can see the dump from the current price, but I suppose we can see another final leg down to 0.5 Fibonacci = $24500. I see now that a lot of treaders changed their mind to the bullish. They think that $30k is imminent, but I think we have to see the drop below $17.5k to make all of them disappointed.

The RSI now is forming the strong bearish divergence because the RSI crossed under the 50 level, crossed it above again and set the lower high, while the price set higher high. Thus, I am sure it is the fake pump and I will close my long position very soon.

Good luck!

Trade on WhiteBIT! Use this link to register and receive 40% of trading commissions from your invited users!

Trade easy with Smart tools

Utilize AI-enhanced SmartBot for automated decisions and SmartTrade terminal for tailored manual trades, all in one integrated platform.

Similar blog posts

Hello, Skyrexians! Recently I shared this article about OTHERS.D where I pointed out that this chart is about to print another one lower low. Now it’s happening, but this is

Hello, Skyrexans! The title of this article is made specially for haters. I see euphoria on each small drop of BTC.D and understand that altseason now will not happen. People

Hello, Skyrexians! Despite most of traders now already do not believe in correction for Bitcoin, USDT.D is showing the potential warning sign. For sure my global forecast for this chart

Hello, Skyrexians! Time for the negative article about BTC.D which is our favorite topic recently because I see now the euphoria again that altseason has been started. The answer is

Hello, Skyrexians! Let’s continue trying to guess when BTC will have a correction. This time it’s very likely, but I am not recommend to short this correction because this is

Hello, Skyrexians! It’s time to update my previous AVAX analysis because when I told that correction is over as usual I have a lot of haters in comments. They told