Hello, everyone!
Yesterday I told you that the price will probably show us at least another one squeeze to the upside, today we saw it. I thought that we will see impulse pump to $44k today, but the price got rejection again from the same level. That’s why I classify the current Bitcoin price action as the consolidation under 0.381 Fibonacci level with squeezes to the upside to liquidate the short positions.
We can see the selling pressure on the large volume again for BTC. It is not good for bulls. Moreover the RSI formed divergence with the price on the 4h. I suppose now that the countertrend line will not be reached at the Fibonacci golden pocket level and we will see the new dump soon. But, I hold my position because I have no risk for it now. The bad fact that the market did not give us the clear short entry point, that’s why I have to hold my long.
Good luck!
