Bitcoin is an extreme weakness

Hi all!

Last time I shared a short setup that was perfect but failed. This is the market and anything is possible. Despite the tight stop loss on this trade, my trade investing portion of the deposit is doing quite well, I am currently testing a new strategy and will give you my feedback in 3 months.

What about Bitcoin now? Let’s look at the WhiteBit exchange chart on the 4-hour BTCUSDT timeframe. The price is still trying to break through the upper band, but the candles look very weak. I can interpret this as a lack of demand. The price is kept at this level only because there are no large sellers here, but if they come, the price will fall rapidly. The most positive scenario that I see right now is a pump to $27 thousand, where the 4-hour supply zone is. This scenario has a low probability, but in this case I have a 10% deposit in crypto.

The most realistic scenario at the moment is to create a bearish divergence from the MACD, with another leg up to collect liquidity. Either way, a huge dump is coming, and the bear market is not over yet.

Good luck!